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Consider a $215,000 mortgage with a 6 year term and 15 year amortization with an interest rate of i(12) = 5.1% . Assuming monthly payments
Consider a $215,000 mortgage with a 6 year term and 15 year amortization with an interest rate of i(12) = 5.1% . Assuming monthly payments on the mortgage are $1711.43, find: (a) The balance at the end of the term. (b) The balance at the end of the amortization period
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