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Consider a loan of 300,000 with level monthly payments for 30 years. Assume an effective annual interest rate of 0.05. 1. What are the level

Consider a loan of 300,000 with level monthly payments for 30 years. Assume an effective annual interest rate of 0.05. 1. What are the level payments? 2. How is the first payment split between interest and principal? 3. What is the balance after the 200th payment assume all payments are made)

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