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Given a loan balance of <span>$174,000 and an interest rate of 8%, the interest due for the next months payment is given by
Therefore, the amount out of the monthly payment of $1,395 that will be applied to the principal is $1,395 - $1,160 = $235.
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Therefore, the amount out of the monthly payment of $1,395 that will be applied to the principal is $1,395 - $1,160 = $235.
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