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Principal portion of the first payment

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Mortgages have an APR (annual percentage rate - a stated rate) of 7.56%. Payments and compounding are monthly. You wish to borrow 520,000 to buy a house in Mar Vista and wish to take out a 30 year mortgage. Fees are included as part of the loan.

The periodic monthly rate is ____

Your monthly payment will be _____

The interest portion of the first payment will be ______

The principal portion of the first payment will be ______

Reference no: EM131669379

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