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Problem 1. Suppose a 30-year loan has an original balance of $200,000 and a note rate of 7.5%. a. Calculate the monthly mortgage payment (MP).

Problem 1. Suppose a 30-year loan has an original balance of $200,000 and a note rate of 7.5%. a. Calculate the monthly mortgage payment (MP).

b. Determine the scheduled principal repayment for month 12 (t = 12).

c. Determine the remaining mortgage balance at the end of 36 months.

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