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A fully amortized mortgage loan is made for 1 0 0 0 0 0 at 6 percent interest for 2 0 years. a ) Calculate

A fully amortized mortgage loan is made for 100000 at 6 percent interest for 20 years. a) Calculate the monthly payment for a CPM loan. b) what will the total of the payments be for the entire 20 year period? of this total, how much will be interest? c) Assume the loan is repaid at the end of 8 years. What will the outstanding balance be? How much total interest will be collected by the end of 8 years.

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