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Amortgage of $400,000 is to be amortized by end-of-month payments over a 25-year period. The interest rate on the mortgage is 6% compounded semi-annually. Round
Amortgage of $400,000 is to be amortized by end-of-month payments over a 25-year period. The interest rate on the mortgage is 6% compounded semi-annually. Round your final answers to 2 decimals. Blank #1: Calculate the principal portion of the 29th payment? Blank #2: Calculate the interest portion of the 37th payment? Blank #3: Calculate the total interest in payments 65 to 91 inclusive. Blank #4: How much will the principal be reduced by payments in the third year? Blank # 1 A/ Blank #2 A/ Blank #3 Blank #4
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