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Suppose that you have a fully amortizing mortgage loan made for $65.000 at 8 percent interest for 20 years. If payments are made monthly, calculate:
Suppose that you have a fully amortizing mortgage loan made for $65.000 at 8 percent interest for 20 years. If payments are made monthly, calculate: a. Monthly payments b. Interest and principal payments during month 1. c. Total principal and total interest paid over 20 years. d. The outstanding loan balance if the loan is repaid at the end of year 5. e. Total monthly interest and principal payments through year 5. f. What would the breakdown of interest and principal be during month 29?
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