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The Harrisons took-out a 15 year residential mortgage for $250,000 at 3.6% interest. What is their monthly payment? (IMPORTANT, all values are numeric except the
The Harrisons took-out a 15 year residential mortgage for $250,000 at 3.6% interest. What is their monthly payment? (IMPORTANT, all values are numeric except the unknown, which is a question mark: ?) Compute the unknown value: $ What is the Excel formula to compute the unknown value? =function( rate, nper. pv, [fv], [type]) In the very first monthly payment, what is the amount of interest? In the very first monthly payment, what amount will reduce the outstanding principal balance of the loan? After the very first monthly payment, what is the remaining outstanding principal balance of the loan
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