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Calculate the monthly payments for each of the following $112,400 mortgage loans. Assume no prepayments a. 30 -year fixed at 7.75 percent b. 15 -year

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Calculate the monthly payments for each of the following $112,400 mortgage loans. Assume no prepayments a. 30 -year fixed at 7.75 percent b. 15 -year fixed at 6.75 percent c. 20 -year fixed at 7.25 percent Note: Round intermediate computations to at least five (5) decimal places Click on the table icon to view the Monthly Installment Loan Payment Factor (MILPF) table: a. The monthly payment, PMT, on the 30-year loan is $ (Round to the nearest cent.) Data table

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