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Need a written-out explanation and formula for comparison. 1) You will have a $350,000 mortgage for 30 years at the rate of 2.39%. What will

Need a written-out explanation and formula for comparison.

1) You will have a $350,000 mortgage for 30 years at the rate of 2.39%. What will your monthly payments be?

2) Suppose that $8000.00 was invested in a savings account that paid 2.5% interest compounded quarterly. How much interest would be earned after 3 years?

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