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1. What is the remaining balance on a $225,000.00 mortgage after 60 months? The mortgage is a a standard mortgage (360 months) with monthly payments

1. What is the remaining balance on a $225,000.00 mortgage after 60 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 5.10%.

2. What is the remaining balance on a $325,000.00 mortgage after 85 months? The mortgage is a a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.80%.

3. Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.70%. What portion of the payments during the first 30 months goes toward principal?

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