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A fully amortizing mortgage loan is made for $ 1 1 4 , 0 0 0 at 6 percent interest for 3 0 years. Required:
A fully amortizing mortgage loan is made for $ at percent interest for years.
Required:
o How much total interest would be paid over the enlire year life of the mortgage, if interest is paid:
Monthly.
Quarterly
Annually
Weekly
For all requirements, round your intermediate calculations and final answers to decimal places.
b Which payment pattern would have the greatest total amount of interest over the year term of the loan?
Complete this question by entering your answers in the tabs below.
Required A
How much total interest would be paid over the entire vear life of the mortgage, if interest is pald:
Monthly
Quarterly
Annually
Weekly
a Total monthly imterest payment
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