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Harold bought a house and his first mortgage payment is due August 1, 2007. Harold's mortgage payment is due on the 1st of every month. The monthly principal amount is $100.00. The annual interest rate is 5.0% and the monthly interest is calculated using a 30/360 year. The principal balance of the mortgage loan on July 31st, 2007 is $350,000.00. ................
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