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Maggie has a mortgage of $285,000 to be repaid by end of month payments with an interest rate of 3.72% compounded monthly over 23 years.

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Maggie has a mortgage of $285,000 to be repaid by end of month payments with an interest rate of 3.72% compounded monthly over 23 years. What is the interest paid in the 5th year of the mortgage? a. What is the amount of each payment? P/Y = 12 C/Y = 12 1/Y = 3.72 %% NE PV = FV = PMT = b. How much interest was paid in the 5th year? answer.) = $ (Enter a positive value for your

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