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A thirty year monthly payment mortgage loan for RM 3 2 5 , 0 0 0 is offered at a nominal rate of 6 .
A thirty year monthly payment mortgage loan for RM is offered at a nominal rate of convertible monthly. The borrower would like to have graduated payments where the first year's monthly payment is and all subsequent monthly payments are
a Find the initial payment
b Find the balance at the end of one vear
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