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In order to buy a house, you borrowed R150 000 this morning at an interest rate ...
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In order to buy a house, you borrowed R150 000 this morning at an interest rate of 9%. The loan is to be repaid in equal monthly payments over 20 years. The first payment is due one month from today. How much of the second payment will be applied to the principal balance?
50%
0%
50%
0%