Question: This morning, you borrowed $ 2 5 0 , 0 0 0 to buy a house. The mortgage rate is 7 . 8 percent. The

This morning, you borrowed $250,000 to buy a house. The mortgage rate is 7.8 percent. The loan is to be repaid in equal monthly payments over 15 years. The first payment is due one month from today. How much of the first payment applies to the principal balance? 1625 Ob 1620.22735.36740.13

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