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Answer these two questions plz with the work shown: Q 1 . Suppose Ann wants to get a fully amortizing, 3 0 - year Fixed

Answer these two questions plz with the work shown: Q1.Suppose Ann wants to get a fully amortizing, 30-year Fixed Rate Mortgage, for $1,000,000 at a 7% annual interest rate, compounded monthly, with monthly payments. How much interest will Ann pay over the life of
the loan? (Hint: compute the total amount Ann will pay the lender, then subtract the principle)2. Suppose Ann wants to get a fully amortizing, 30-year Fixed Rate Mortgage, for $1,000,000 at a 3.5% annual
interest rate, compounded monthly, with monthly payments. How much interest will Ann pay over the life of
the loan? (Hint: compute the total amount Ann will pay the lender, then subtract the principal.)

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