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Kimiko signed a mortgage requiring payments of $ 3 0 9 . 9 6 at the end of every month for 5 years at 7
Kimiko signed a mortgage requiring payments of $ at the end of every month for years at compounded monthly.
a How much was the original mortgage balance?
b If Kimiko missed the first payments how much would she have to pay after months to bring the mortgage payments up to date?
c How much would Kimiko have to pay after months to pay off the mortgageassuming she missed all the payments
d If the mortgage were paid off after months what would the total interest cost be
e How much of the total interest cost is additional interest because of the missed payments?
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Part
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.
Part
b Kimiko would have to pay $
enter your response here.
Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed
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