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please use financial calculator Derek received a 15 year loan of $350,000 to purchase a house. The interest rate on the loan was 5.40% compounded
please use financial calculator
Derek received a 15 year loan of $350,000 to purchase a house. The interest rate on the loan was 5.40% compounded semi-annually. a. What is the size of the monthly loan payment? $0.00 Round to the nearest cent b. What is the balance of the loan at the end of year 3? $0.00 Round to the nearest cent c. By how much will the amortization period shorten if Derek makes an extra payment of $30,000 at the end of year 3? o years I monthsStep by Step Solution
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