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Katherine received a 1 5 year loan of $ 3 3 5 , 0 0 0 to purchase a house. The interest rate on the
Katherine received a year loan of $ to purchase a house. The interest rate on the loan was compounded semiannually.
a What the size of the monthly loan payment?
Round to the nearest cent
b What is the balance of the loan at the end of year
Round to the nearest cent
c By how much will the amortization period shorten if Katherine makes an extra payment of $ at the end of year
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