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Please help to solve question 22-27. Thank you . 18 3,953.97 Questions 18-27 use the same data Mortgage: find payment N = 15 years, monthly
Please help to solve question 22-27. Thank you .
18 3,953.97 Questions 18-27 use the same data Mortgage: find payment N = 15 years, monthly payments, starts at end of January Interest rate = 5%, compounded monthly PV = 500,000 FV = 0 Compute PMT Round to 2 decimal places P1 = 1 P2 = 12 19 Balance at end of December in first year 20 Total principal repayment at end of first year 21 | Total interest payments at end of first year 477,030.72 22,969.28 24,478.36 August 2019 Round to 2 decimal places 22 23 24 P1 = 49 P2 = 60 Balance at end of December in 5th year Total principal repayment in 5th year Total interest payments in 5th year Round to 2 decimal places 25 26 27 Balance at end of December in 13th year Total principal repayment in 13th year Total interest payments in 13th year Round to 2 decimal placesStep by Step Solution
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