Question: Ann obtains a fully amortizing 3 0 year Fixed Rate Mortgage with monthly payments for $ 4 , 5 0 0 , 0 0 0

Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500,000 at 4.38%. What percent of Anns 20th payment goes to principal? Write your answer as a percent rounded to two decimal points without the % sign (e.g. if you get 5.6499%, write 5.65).

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