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2. Joe and Flow just purchased a house. To finance the purchase they borrowed $200,000 at an interest rate of 5 percent for a

2. Joe and Flow just purchased a house. To finance the purchase they borrowed $200,000 at an interest rate of 5 percent for a term of 30 years. a. What is their monthly payment? b. Prepare an amortization table showing the interest paid, principal reduction, and ending loan balance each month for the duration of the loan.

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