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show all the steps and also in excel of how solve this problem and how you get it. show the formulas 2. A mortgage has
show all the steps and also in excel of how solve this problem and how you get it. show the formulas
2. A mortgage has the following terms: $750,000 Amount: 6.25% Rate: Amortization (Years): 30 20 Term (Years): Please determine the following: A. What is the Monthly Payment? B. In preparing an Income Statement, what is the Interest Expense for years 1 - 5? C. What is the Principal Balance at the end of year 6? D. What is the value of the loan at the expiration? E. If rates remain constant (flat), what would the benefit be to refinance this loan after year 10
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