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The interest rate for the first four years of an $95.000 mortgage loan is 8.9% compounded semiannually Monthly payments are calculated using a 20-year amortization.

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The interest rate for the first four years of an $95.000 mortgage loan is 8.9% compounded semiannually Monthly payments are calculated using a 20-year amortization. e. What will be the principal balance at the end of the four-year term? (Do not round Intermediate calculations and round your final answer to 2 decimal places) Principal balance b.What will be the monthly payments if the loan is renewed at 6.3% compounded semiannually (and the original amortization period is continued)? (Do not round Intermediate calculations and round your final answer to 2 decimal places) Payment $ per month 37

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