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Marcela takes out a 30-year mortgage for 187,294.43 at a nominal annual interest rate of 9% convertible monthly. At the end of 10 years, she

Marcela takes out a 30-year mortgage for 187,294.43 at a nominal annual interest rate of 9% convertible monthly.

At the end of 10 years, she refinances the outstanding loan balance at 6% convertible monthly.

The total number of payments remains the same.

Determine Marcelas new monthly mortgage payments.

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