After 10 years, you have made 1/3 of the payments. Why isn't 1/3 of the loan balance paid off?

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For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at
7.25% interest.
22. After 10 years, you have made 1/3 of the payments.
loan balance paid off?
Why isn't 1/3 of the
Transcribed Image Text:For Problems 17-24, assume you get a 30-year $90,000 mortgage loan at 7.25% interest. 22. After 10 years, you have made 1/3 of the payments. loan balance paid off? Why isn't 1/3 of the
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