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(4 points) Fifteen years ago a couple purchased a house for $170,000.00 by paying a 20% down payment and financing the remaining balance with a
(4 points) Fifteen years ago a couple purchased a house for $170,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 7.24% compounded monthly. (a) Find the monthly payment for this loan. Monthly Payment: 181 (Note: Your answer should include a dollar sign and be accurate to two decimal places) (b) Find the balance of the loan after 19 years and after 20 years? Let n be how many payments are left on the loan. After 19 years After 20 years RE n= Loan Balance: H!! Loan Balance: (Note: The balance amounts should include a dollar sign and be accurate to two decimal places) (c) Find the total amount of interest paid by the couple during the 20th year. Interest Paid During 20th year: 181 (Note: Your answer should include a dollar sign and be accurate to two decimal places)
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