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Judy borrows $500,000 for 10 years at 8%. The loan is set for payments at the end of every quarter and the interest is 2%

Judy borrows $500,000 for 10 years at 8%. The loan is set for payments at the end of every quarter and the interest is 2% per quarter. Use Excel to prepare amortization table for each of the following situations.

C) Total payment is constant at $12,000. What is the name of this kind of mortgage loan?

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