Question: you are borrowing 200,000 for an amortized loan with terms that include annual payments, 6 year loan, and interest rate of 6 per year. how

you are borrowing 200,000 for an amortized loan with terms that include annual payments, 6 year loan, and interest rate of 6 per year. how much of the first year's payment would be applied toward reducing the principal? answer to nearest cent.

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