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Assume a partially amortizing 10-year $90,000 FRM, at an 8% interest. Both the lender and the borrower agree that payments will be monthly and that
Assume a partially amortizing 10-year $90,000 FRM, at an 8% interest. Both the lender and the borrower agree that payments will be monthly and that a balance of $20,000 will remain and has to be repaid at the end of last year. Evaluate the monthly payment of this mortgage. *Round up to two decimals.
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