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Consider the first payment against a $200, 000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row
Consider the first payment against a $200, 000 mortgage that last for 25 years. Fixed repayments are made on a monthly basis. The first row of the amortization schedule is shown below Payment # Payment 1 d 2 ... Interest Debt Payment Balance 716.67 b ... P1 ... Calculate d, the fixed monthly repayments that are made. Round the interest rate to the nearest tenth of a percent. Give your answer in dollars and cents. Do not include commas or the dollar sign in your answer.
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