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Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.75% with a 25 year amortization mortgage. You will use the mortgage
Find the MONTHLY mortgage PAYMENT of stress tested(+2%) on your rate of 3.75% with a 25 year amortization mortgage. You will use the mortgage amount from previous sections. You must also determine the amount of INTEREST, PRINCIPAL and BALANCE owing for the mortgage after 2 Years and 7 Months. Input all the TVM variables and answers into the fields below. Mortgoge Amount From Previous Question Amortization $388129.48 25 Years P/Y C/Y Present Value of Loan (PV P1 Months P2 Months Number of Perlods (N) Monthly Payment (PMT) BALANCE OWING (BAL) Mortgage Rate As % (1/Y) Value At End of Loan (FV)- PRINCIPAL PAID (PRN) Section Value: 7 INTEREST PAID (INT) Submit Answers
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Algebra and Trigonometry
Authors: Ron Larson
10th edition
9781337514255, 1337271179, 133751425X, 978-1337271172
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