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Ariel received a 30 year loan of $370,000 to purchase a house. The interest rate on the loan was 2.20% compounded semi-annually. a. What is
Ariel received a 30 year loan of $370,000 to purchase a house. The interest rate on the loan was 2.20% compounded semi-annually. a. What is the size of the monthly loan payment? $0.00 Round to the nearest cent b. What is the balance of the loan at the end of year 2? $0.00 Round to the nearest cent c. By how much will the amortization period shorten if Ariel makes an extra payment of $30,000 at the end of year 2? 0 years 0 months
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