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Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 6% with monthly payments and monthly

Suppose that you borrowed $200,000 in the form of a 30-year fixed-rate mortgage with an annual interest rate of 6% with monthly payments and monthly compounding.

What will your monthly payment be for this loan?

How much will you still owe at the end of the 15th year?

How much of the 1st payment will consist of principal?

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