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A 20 year home loan is repaid with year-end payments. The first payment of his loan is 5,000, each year the payment is increased by
A 20 year home loan is repaid with year-end payments. The first payment of his loan is 5,000, each year the payment is increased by 100. Calculate the amount of premium amortized in the 1st payment using a 3.5% effective rate of interest. n - ny (la)ni i Premium amortized
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