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  3. a borrower obtains a $76,000 mortgage loan at 11%

A borrower obtains a $76,000 mortgage loan at 11% % interest. If the monthly payments...

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Algebra

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A borrower obtains a $76,000 mortgage loan at 11% % interest. If the monthly payments of $785 are credited first on interest and then on principal, what will the balanceof the principal be after the borrower makes the first payment?A) $75,543.66B) $75,943.33C) $75,215.00D) $75,305.28

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