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B C D E F 1 Mortgage principal $60,000.00 2 Annual interest rate 10% 3 Payment term (years) 30 4 Monthly payment 5 6 You

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B C D E F 1 Mortgage principal $60,000.00 2 Annual interest rate 10% 3 Payment term (years) 30 4 Monthly payment 5 6 You have taken a $60,000, 30-year mortgage to finance the purchase of your new house. The mortgage 7 has annual rate of 10% and requires monthly flat payments of interest and principal. Use PMT function 8 to compute the monthly payment and design a loan table showing how the loan is paid off. 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 ? 8898 25 26 27

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