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31 May, 15:56

Jesse took out a 30-year loan for $85,000 at 7.2% interest, compounded monthly. If his monthly payment on the loan is $576.97, how much of his first payment went toward note reduction (reducing principal) ? Show your work.

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  1. 31 May, 16:32
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    The correct answer for this question is 66.97
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