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Reminder: Please observe TVM and Calculator sign-convention for cash flows. Question: You were just approved a 30-year $500,000 mortgage with a fixed rate APR of
Reminder: Please observe TVM and Calculator sign-convention for cash flows. Question: You were just approved a 30-year $500,000 mortgage with a fixed rate APR of 9% compounded monthly. During the end of 5 years of the ideal periodic payments of PMT, your mortgage Interest component for that particular period is $ IMPORTANT: Your number format should be comma to separate millions from thousands, then followed by exactly TWO-decimal places. For example, 56,543.12 or 6,543. 12 would be acceptable, while $6,543.123 and 56543.123 and 6,543.123 and 6543. 123 and $6,543.1 and $6543.1 and 6. 543.1 and 6543. 1 would be auto-graded incorrectly
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