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PROBLEM # 2 You just took a $315,000, 30-year loan. Payments at the end of each month are flat (equal in every month) at an
PROBLEM # 2
- You just took a $315,000, 30-year loan. Payments at the end of each month are flat (equal in every month) at an annual interest rate of 3.75 percent.
- a)Calculate the monthly payment.
- b)Provide the appropriate loan table, showing the breakdown in each month between principal repayment and interest.
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