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Fifteen years ago a couple purchased a house for $230,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage

Fifteen years ago a couple purchased a house for $230,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 4.7% compounded monthly.

(a) Find the monthly payment for this loan.

(b) Find the balance of the loan after 16 years and after 17 years?

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