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A mortgage loan of $200,000 is amortised over 20 years, term 5 years, with a monthly payment of $1,378.78. Calculate the following: QUESTION 12 A

image text in transcribedA mortgage loan of $200,000 is amortised over 20 years, term 5 years, with a monthly payment of $1,378.78. Calculate the following:

QUESTION 12 A mortgage loan of $200,000 is amortised over 20 years, term 5 years, with a monthly payment of $1,378.78. Calculate the following: a. The nominal rate of the mortgage loan. Answer: b. The balance at the end of the 5 year term. Answer: C. The interest paid during the 3rd year. Answer: d. The total amount of interest paid for the duration of the loan

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