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Monthly mortgage payments for each of the following situations would be: a. $921/month - $100,000, 15-year loan, 7,5% APR compounded semi-annually b. $1656/month - $200,000,

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Monthly mortgage payments for each of the following situations would be: a. $921/month - $100,000, 15-year loan, 7,5% APR compounded semi-annually b. $1656/month - $200,000, 25-year loan, 9% APR compounded semi-annually c. $1570.80/month - $165,000, 20-year loan, 10% APR compounded semi-annually Note that all of these mortgage payments are different from each other. Your job is to tell me what causes these differences. REQUIRED: 1. List all of the factors illustrated above that affect the size of these monthly mortgage payments and state how the size of the payment is affected by that factor. (6 marks) 2. What are some other factors which are not illustrated above, but which would affect payment size? There are at least four, but I'm only asking you for two. (2 marks) Paragraph B I DE

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