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A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate: e) Total
A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly. Calculate:
e) Total monthly interest and principal payments through year 10. f) What would the breakdown of interest and principal be during month 50?
Please show how you got the answer and the equations you use. Thank you!
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