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You've just taken on a 20-year, $150,000 mortgage with a quoted interest rate of 6 percent calling for payments semiannually. How much of your first
You've just taken on a 20-year, $150,000 mortgage with a quoted interest rate of 6 percent calling for payments semiannually. How much of your first year's loan payments (the initial two payments, with the first coming after 6 months have passed, and the second one coming at the end of the first year) goes toward paying interest, rather than principal?
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