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What fraction of the total payment made in the entire year

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Question - Sally is planning to borrow $240,000 on a 30-year, 3.99 percent, monthly payment, fully amortized term home loan. What fraction of the total payment made in the entire second year represent repayment of the principal?

a. 36.29%

b. 34.25%

c. 32.08%

d. 33.50%

e. 30.27%

Reference no: EM132829884

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