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14. A mortgage requires you to pay $70,000 at the end of each of the next eight years. The interest rate is 8% a. What

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14. A mortgage requires you to pay $70,000 at the end of each of the next eight years. The interest rate is 8% a. What is the PV of these payments? b.Calculate for each year the loan balance that remains outstanding, the interest payment on the loan and the reduction in the loan balance

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