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Please work in excel showing formulas: Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original balance
Please work in excel showing formulas: Secondary Mortgage Purchasing Company (SMPC) wants to buy your mortgage from the local savings and loan. The original balance of your mortgage was $140,000 and was obtained 5 years ago with monthly payments at 10% interest. The loan was to be fully amortized over 30 years. What should SMPC pay if it wants an 11% return?
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