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Problem : You are looking to buy a house that will cost $300,000. You plan to finance the purchase through a down payment of 25%

Problem : You are looking to buy a house that will cost $300,000. You plan to finance the purchase through a down payment of 25% from your savings and the rest you will take a 15 year mortgage from Lanka Bangla Finance that will charge you 8.5% interest on the mortgage amount. a) What would be your monthly payment on this mortgage? b) Please show the first 3 payments ONLY on this mortgage from the amortization schedule.

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