Question: you just borrowed 1 5 5 , 0 0 0 for 3 5 years at 7 % this ia an amortized laon with equal monthly

you just borrowed

155, 000

for

35

years at

7 %

this ia an amortized laon with equal monthly payments over the life of the loan. how much of the first payment goes to reducing the principle balae of the laon

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