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1. Maria takes out a 30-year mortgage for $230,747 at an annual interest rate of 3.4%. How much does she still owe when there is

1. Maria takes out a 30-year mortgage for $230,747 at an annual interest rate of 3.4%. How much does she still owe when there is 1 year left on the loan?

2. Consider a 20-year mortgage for $184,523 at an annual interest rate of 4.2%. After 5 years, the mortgage is refinanced to an annual interest rate of 2.3%. What are the monthly payments after refinancing?

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