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What total dollar amount of the mortgage payments

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Problem 1: John and Peggy recently bought a house. They financed the house with a $234,000, 30-year mortgage with a nominal interest rate of 10.00%. Mortgage payments are made at the end of each month. What total dollar amount of their mortgage payments during the first 5 years will go towards repayment of principal?

Reference no: EM132934037

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