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For the following fixed rate mortgage Mortgage: $143,200 Interest Rate: 6.5% Term of Loan: 15 years. a) Calculate the monthly payment. b) Calcualte the interest

For the following fixed rate mortgage

Mortgage: $143,200

Interest Rate: 6.5%

Term of Loan: 15 years.

a) Calculate the monthly payment.

b) Calcualte the interest payment for the first month.

c) Calculate the principal payment for the first month.

d) Calculate the balace of the principal at the end of the first month.

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