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Calculate the amount of principal reduction

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Reference no: EM131710612

If you took out $300,000 mortgage loan to be repaid over 30 years at 9.0%, calculate the amount of principal reduction in the first year. (assuming that you make payments annually).

Reference no: EM131710612

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Calculate the amount of principal reduction : If you took out $300,000 mortgage loan to be repaid over 30 years at 9.0%, calculate the amount of principal reduction in the first year.
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