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Assume a mortgage for $400,000 at 3.75% payable monthly that fully amortizes over 30 years. 6. What is the payment? 7. What is the cumulative

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Assume a mortgage for $400,000 at 3.75% payable monthly that fully amortizes over 30 years. 6. What is the payment? 7. What is the cumulative interest and principal for the six month period, months 36 to 41 ? 8 . What is the balance owed assuming payments have been made for 5 years (60 months)

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