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A 20 year monthly payment mortgage loan for 100,000 is offered at a nominal rate of 6% convertible monthly. a. Find the Monthly payment b.

A 20 year monthly payment mortgage loan for 100,000 is offered at a nominal rate of 6% convertible monthly.

a. Find the Monthly payment

b. The total principal and interest that would be paid on the loan over 20 years

c. The outstanding balance at the end of the third year

d. The principal and interest paid over the first 3 years

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