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(1 point) Mr. Smith is purchasing a $100000 house. The down payment is 20% of the price of the house. He obtains a 25 -year
(1 point) Mr. Smith is purchasing a $100000 house. The down payment is 20% of the price of the house. He obtains a 25 -year mortgage at a rate of 6%. Find: (i) the monthly payment: \$ (ii) the amount of interest paid in the 5 th payment: \$ iii) the portion of the 5 th payment that is applied to the balance: \$ (iv) the loan balance immediately after the 5 th payment is made: $
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