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(1 point) Fifteen years ago a couple purchased a house for $190,000.00 by paying a 20% down payment and financing the remaining balance with a
(1 point) Fifteen years ago a couple purchased a house for $190,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 6.04% compounded monthly. (a) Find the monthly payment for this loan. Monthly Payment: $915.23 (b) Find the balance of the loan after 19 years and after 20 years. Let be how many payments are left on the loan. After 19 years After 20 years n = 11 n = 10 Loan Balance: $93724.48 Loan Balance: $ (c) Find the total amount of interest paid by the couple during the 20th year. Interest Paid During 20th year: $
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