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Posted on Jun 05, 2024

Afully amortizing mortgage loan is made for $100,000 at 6 percent interest for 20 years. a. Calculate the monthly payment for a CPM loan. b.

Afully amortizing mortgage loan is made for $100,000 at 6 percent interest for 20 years.

a. Calculate the monthly payment for a CPM loan.

b. Assume the loan is repaid at the end of 8 years. What will be the outstanding balance?

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