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S. Suppose that a 25-year mortgage loan for $3,000,000 is obtained.The mortgage is a level-payment, fixed-rate, fully amortized mortgage and the mortgage rate is 2.8%

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S. Suppose that a 25-year mortgage loan for $3,000,000 is obtained.The mortgage is a level-payment, fixed-rate, fully amortized mortgage and the mortgage rate is 2.8% (APR, monthly compounding a. Find the monthly mortgage payment. b. What will the mortgage balance be at the end of the 12th year

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