Question: Ann obtains a fully amortizing 30-year Fixed Rate Mortgage with monthly payments for $1,500,000 at 7.05%. What percent of Anns 20th payment goes to principal?

Ann obtains a fully amortizing 30-year Fixed Rate Mortgage with monthly payments for $1,500,000 at 7.05%. What percent of Anns 20th payment goes to principal? Show your work.

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