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Kimiko signed a mortgage requiring payments of $271 86 at the end of every month for 6 years at 6.6% compounded monthly (a) How much
Kimiko signed a mortgage requiring payments of $271 86 at the end of every month for 6 years at 6.6% compounded monthly (a) How much was the original mortgage balance? (b) If Kimiko missed the first 9 payments, how much would she have to pay after 10 months to bring the mortgage payments up to date? (c) How much would Kimiko have to pay after 10 months to pay off the mortgage (assuming she missed all the payments)? (d) If the mortgage were paid off after 10 months, what would the total interest cost be? (e) How much of the total interest cost is additional interest because of the missed payments? (a) The original mortgage balance was $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (b) Kimiko would have to pay $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (c) Kimiko would need $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (d) The total interest cost would be $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (e) The interest resulting from the deferral is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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