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A 30-year, $440,000 mortgage at 4.10% compounded semi-annually is repaid with monthly payments. a. What is the size of the monthly payments? b. Find the
A 30-year, $440,000 mortgage at 4.10% compounded semi-annually 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 $175 at the end of year six(Express the answer in years and months, rounded to the next payment period.)?
Kindly provide details in excel
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