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Compute the required monthly payment on a $150,000 30-year fixed-rate mortgage with a nominal interest rate of 8%. What is the balance due at the

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Compute the required monthly payment on a $150,000 30-year fixed-rate mortgage with a nominal interest rate of 8%. What is the balance due at the end of the first year? 4. 5. Refer to problem 4. What is the total amount of inter- est paid over the life of the loan

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