On February 1, you borrow $750,000 to buy a house. The mortgage rate is 7.23%...
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On February 1, you borrow $750,000 to buy a house. The mortgage rate is 7.23% compounded semi-annually. The loan is to be repaid ir equal monthly payments over 20 years. The first payment is due on March 1. How much of the third payment applies to the principal balance? (Assume that each month is equal to 1/12 of a year.) 8 00:06.17 Multiple Choice 1,418.29 1.426.71 4.443.73
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