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A 25-year mortgage of $300,000 was originally agreed to with a 5-year term and 3% compounded monthly. After 5 years, another 5-year is agreed to
A 25-year mortgage of $300,000 was originally agreed to with a 5-year term and 3% compounded monthly. After 5 years, another 5-year is agreed to with a 2.7% compounded monthly interest rate. What is the new payment amount? Round your payment calculations up to the next penny.
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