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Nate took out a mortgage of $407,000 for a house and just made the 73rd end of month payment. If interest on the loan was
Nate took out a mortgage of $407,000 for a house and just made the 73rd end of month payment. If interest on the loan was 3.45% compounded monthly and the mortgage has a period of 19 years. Round ALL answers to two decimal places if necessary. 1) What are his monthly payments?
P/Y = | C/Y = | N = |
I/Y = % | PV = $ | FV = $ |
PMT = $ |
2) What is his current outstanding balance after the 73rd payment?
BAL = $ (enter a positive value) |
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