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On December 31, 2005, a house was purchased with the buyer taking out a 30-year S90.000 mortgage at 3% interest compounded monthly. The mortgage payments

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On December 31, 2005, a house was purchased with the buyer taking out a 30-year S90.000 mortgage at 3% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate: (a) the unpaid balance of the loan on December 31, 2015, just after the 120th payment. (b) the interest that will be paid during January 2016

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