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You've decided to buy a new house for $650,000. You will put a downpayment of 20% of the purchase price of the house. The bank

You've decided to buy a new house for $650,000. You will put a downpayment of 20% of the purchase price of the house. The bank will loan you the rest at an interest rate of 3.75% [APR] for a 15-year loan. After one year, how much have you paid in principal?

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