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The loan is to be repaid in equal monthly payments over

On November 1 , you borrow $189,400 to buy a house. The mortgage rate is 6 percent. The loan is to be repaid in equal monthly payments over twenty years. The first payment is due on December 1. How much of the third payment applies to the principal balance? Show all work.

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Basic Computer Science: The loan is to be repaid in equal monthly payments over

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