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Calculate the monthly payments for each of the following $97,400 mortgage loans. Assume no prepayments a. 30-year fixed at 8.75 percent b. 15-year fixed at

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Calculate the monthly payments for each of the following $97,400 mortgage loans. Assume no prepayments a. 30-year fixed at 8.75 percent b. 15-year fixed at 7.75 percent c. 20-year fixed at 8.25 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)

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