## What is Principal Repaid?

In the problem below we need to solve for the percentage of the payment that is made towards the principal. The principal is part of the payment that is made on the loan to reduce the loan amount. Not all loans have the same percentage paid out to the principal and interest.

Before we solve for the principal repaid for the second payment, we first need to solve for the payments made at the end of each month. We will need...

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