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A fully amortizing mortgage loan is made for $ 9 9 , 0 0 0 at 6 percent interest for 2 5 years. Payments are
A fully amortizing mortgage loan is made for $ at percent interest for years. Payments are to be made monthly.
Required:
a Calculate monthly payments.
b Calculate interest and principal payments during month
c Calculate total principal and total interest paid over years.
d Calculate the outstanding loan balance if the loan is repaid at the end of year
e Calculate total monthly interest and principal payments through year
f What would the breakdown of interest and principal be during month
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