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The bank offers you a $300,000 loan at 12% annual interest with quarterly payments for the next 25 years. a) What is the quarterly mortgage
The bank offers you a $300,000 loan at 12% annual interest with quarterly payments for the next 25 years. a) What is the quarterly mortgage payment? (7 poirts) b) What is the total interest paid during the 25 years? (7 points) c) Create a line chart in excel showing the interest payment and principal payment for each payment period over the 25 years. The two li the same chart. (6 points) The bank offers you a $300,000 loan at 12% annual interest with quarterly payments for the next 25 years. a) What is the quarterly mortgage payment? (7 poirts) b) What is the total interest paid during the 25 years? (7 points) c) Create a line chart in excel showing the interest payment and principal payment for each payment period over the 25 years. The two li the same chart. (6 points)
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