Question: A lendee agrees to borrow $ 4 5 0 , 0 0 0 on a 3 0 - year, fully amortizing mortgage loan with a

A lendee agrees to borrow $450,000 on a 30-year, fully amortizing mortgage loan with a fixed (nominal) annual rate of 7%(compounded monthly) and constant monthly payments. What proportion of his payment in month 152 is applied toward the principle (instead of toward interest)?

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