Question: You plan to purchase a $ 1 5 0 , 0 0 0 house using a 3 0 - year mortgage obtained from your local

You plan to purchase a $ $150, 000$ house using a $30 -$ year mortgage obtained from your local credit union. The mortgage rate offered to you is $4$ percent. You will make a down payment of $20$ percent of the purchase price.

Calculate the amount of principal paid in the $1$ st payment.

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