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A family has a $139,087, 30-year mortgage at 5.4% compounded monthly. Find the monthly payment. Also find the unpaid balance after the following periods of
A family has a $139,087, 30-year mortgage at 5.4% compounded monthly. Find the monthly payment. Also find the unpaid balance after the following periods of time.
(A) 10 years (B) 20 years (C) 25 years
The monthly payment is
(Round to the nearest cent as needed.)
(A) The unpaid balance after 10 years is
(Round to the nearest cent as needed.)
(B) The unpaid balance after 20 years is
(Round to the nearest cent as needed.)
(C) The unpaid balance after 25 years is
(Round to the nearest cent as needed.)
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