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Ms. Esperanto obtained a $42,000 home equity loan at 9.4% compounded monthly. (Do not round intermediate calculations. Round the PMT and final answers to 2

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Ms. Esperanto obtained a $42,000 home equity loan at 9.4% compounded monthly. (Do not round intermediate calculations. Round the PMT and final answers to 2 decimal places.) a. What will she pay monthly if the amortization period is 15 years? Payment $ per month b. How much of the payment made at the end of the fifth year will go towards principal and how much will go towards interest? Principal Interest c. What will be the balance on the loan after five years? Balance $ d. How much interest did she pay during the fifth year? Interest paid $

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