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4) You have been approved a mortgage for a property. The mortgage is for a 25-year period with a 4.5% annual interest rate for a

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4) You have been approved a mortgage for a property. The mortgage is for a 25-year period with a 4.5% annual interest rate for a total amount of $800,000 (9 points) a. What is the annual payment? b. What will be the interest and principal payments for the second and third years of the mortgage? c. What will be the remaining principal balance at the end of the fourth year

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