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Savannah has a mortgage of 5348,000 to be repaid by end of month payments with an interest rate of 6.68% compounded monthly over 20 years.

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Savannah has a mortgage of 5348,000 to be repaid by end of month payments with an interest rate of 6.68% compounded monthly over 20 years. What is the interest paid in the 7th year of the mortgage? a. What is the amount of each payment? P/Y C/Y 1/Y NE PV = FV PMT b. How much interest was paid in the 7th year? (Enter a positive value for your answer.)

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