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A 25-year, $435,000 mortgage at 4.10% compounded quarterly is repaid with monthly payments. a. What is the size of the monthly payments? b. Find the

A 25-year, $435,000 mortgage at 4.10% compounded quarterly is repaid with monthly payments.

a. What is the size of the monthly payments?

b. Find the balance of the mortgage at the end of 6 years?

c. By how much did the amortization period shorten by if the monthly payments are increased by $100 at the end of year six?

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