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interest rate is 6 . 5 % , compounded monthly. ( a ) What will the Kim's monthly payment be ? ( b ) What

interest rate is 6.5%, compounded monthly.
(a) What will the Kim's monthly payment be?
(b) What is the total interest the Kim family will pay over the 25-year life of the loan?
(c) How much of their first payment, one month from now is for interest, and how much is applied against the principal of the loan?
(d) Set up a mortgage amortization table in Excel for the first year. Take a screenshot/printout and hand that in.(6 marks)
(e) What is the balance owing on their loan after 10 years?
f.) After 10 years, how much of their next monthly payment is interest? How much is applied against the principal?
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