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I am, trying to solve the problem but I am stuck at option c can you please me with detailed steps You have applied for

I am, trying to solve the problem but I am stuck at option c can you please me with detailed steps

You have applied for an $180,000 mortgage to buy your first house. The bank is offering you a 30-year loan at 4.25 percent interest.

a) What is the monthly payment on this loan?

b) If you continue to make this payment for 7 years, how much will you owe on this loan?

c) Suppose instead of the scheduled monthly payment calculated in (a) above, you make payments of $1,000 per month. How long will it take you to pay off the loan?

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