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monthly. Fifteen years ago a couple purchased a house for $210,000.00 by paying a 20% down payment and financing the remaining balance with a
monthly. Fifteen years ago a couple purchased a house for $210,000.00 by paying a 20% down payment and financing the remaining balance with a 30-year mortgage at 6.84% compounded (a) Find the monthly payment for this loan. Monthly Payment: $ (b) Find the balance of the loan after 15 years and after 16 years. Let n be how many payments are left on the loan. After 15 years After 16 years n = n = Loan Balance: $ Loan Balance: $ (c) Find the total amount of interest paid by the couple during the 16th year. Interest Paid During 16th year: $
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