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Consider the following fixed-rate level payment mortgage: - Maturity = 20 years; amount borrowed $500,000; mortgage rate = 6% per annum a. Calculate the monthly

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Consider the following fixed-rate level payment mortgage: - Maturity = 20 years; amount borrowed $500,000; mortgage rate = 6% per annum a. Calculate the monthly mortgage payment. (4 points) b. Calculate i) the interest, ii) scheduled principal payment for the first month and iii) the outstanding balance of the mortgage loan at the beginning of the second month. (6 points)

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