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MOnica received a 1 5 year loan of $ 2 8 0 0 0 0 to purchase a house. The interest rate on the loan

MOnica received a 15 year loan of $280000 to purchase a house. The interest rate on the loan was 4.30% compounded semi-annually. a) What is the size of the monthly loan payment? b) What is the balance of the loan at the end of year 4? c) By how much will the amortization period shorten if Monica makes an extra payment of $30000 at the end of year 4?

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