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Problem 1: Determine the monthly mortgage payment and other associated payment information based on the mortgage terms below. Loan: 235,000.00 Interest rate (APR) Term (years):

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Problem 1: Determine the monthly mortgage payment and other associated payment information based on the mortgage terms below. Loan: 235,000.00 Interest rate (APR) Term (years): 3.96% 15 Monthly interest rate: Number of payments Monthly payment: Payment month: Owe: Repayment nterest 235,000.00 10 12 Suppose you pay an extra $100 each month on the mortgage. How many months will it take to repay the mortgage? Answer in months

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