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Assume you have taken out a 25 -year loan of $177,390 with an annual interest rate of 6.75%, compounded monthly. (a) Determine the payment amount

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Assume you have taken out a 25 -year loan of $177,390 with an annual interest rate of 6.75%, compounded monthly. (a) Determine the payment amount (in dollars), to the nearest cent, on the given loan amount. 5 (b) Determine the outstanding balance (in dollars), to the nearest dollar, after 17 years

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