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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. 1. Calculate the

A fully amortizing mortgage loan is made for $80,000 at 6 percent interest for 25 years. Payments are to be made monthly.

1. Calculate the outstanding loan balance if the loan is repaid at the end of year 10. 2. Calculate total monthly interest and principal payments through year 10.

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