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A 200000 mortgage with a 30 year term and a 5 annual

A $200,000 mortgage with a 30 year term, and a 5% annual interest rate requires a monthly payment of $1073.64.

1. What are the principle and interest portions of the first payment?

2. What are the principle and interest portions of the second payment?

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Financial Management: A 200000 mortgage with a 30 year term and a 5 annual

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Financial Management: A 200000 mortgage with a 30 year term and a 5 annual

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