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A) You get an interest-only mortgage loan of $215,000 at 8.25%. For the first 2 years, your monthly payments are interest-only. What is your monthly

A) You get an interest-only mortgage loan of $215,000 at 8.25%. For the first 2 years, your monthly payments are interest-only. What is your monthly payment for those 2 years?

$170,000

$1,615.22

$1,478.13

$17,737.50

B) What is the mortgage balance after making 22 monthly payments?

$212,043.74

$213,384.78

$215,000

$213,521.87

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