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A company takes out an eight-year, $610,000 mortgage on September 1. The interest rate on the mortgage is 7% per year, and blended payments
A company takes out an eight-year, $610,000 mortgage on September 1. The interest rate on the mortgage is 7% per year, and blended payments of $8,317 (including both interest and principal) are to be made at the end of each month. The following is an extract from the mortgage amortization table: Your answer is correct. Determine the missing amounts. (Round answers to O decimal places, e.g. 125.) Beginning Mortgage Balance Payment Payment 1 $610,000 $ Payment 2 605,241 Interest 8317 (1) $3,558 8,317 3531 (3) Payment 3 600455 (5) 8,317 3,503 Payment 4 595,641 8,317 3,475 eTextbook and Media List of Accounts Prin
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