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Meryem wants to buy a coffee shop that will cost $80,000. She will make a down payment of $10,000 and take out a mortgage on
Meryem wants to buy a coffee shop that will cost $80,000. She will make a down payment of $10,000 and take out a mortgage on the rest of the amont at 9% compounded monthly. a) What will be her monthly payments to pay off the mortgage in 20 years? b) Meryem has made 28 monthly payments and wants to figure out the remaining balance immediately after the 28 th payment. What is that balance
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