When creating a fully-amortized loan for $5,000 at an 11% interest rate for 20 years, the lender will require equal monthly payments of $51.61, including principal and interest. How much of the first monthly payment will be used to reduce the principal balance:
A: $45.83;
B: $25.80;
C: $11.56;
D: $5.78.
Answer: D: $5.78.
Business
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A totally handwritten will is called a(n) ___ _________ will
Fill in the blank(s) with the appropriate word(s).
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