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How to solve
Note: Unless otherwise advised, you oget credit for those solutions if you show your calculations clearly using the appropriate formulas be brief, though
On December st you borrow $ to buy a house. The mortgage rate is percent per month. The loan is to be repaid in equal monthly payments over years.
a set up an amortization schedule for the loan for the first two months of the loan.
b From part a write down the principal part if the installment payment for the month of the loan
c What's the loan's APR? EAR?
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