Use your financial calculator to determine the monthly payments for each of the following $94,200 mortgage loans.
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Question:
Use your financial calculator to determine the monthly payments for each of the following $94,200 mortgage loans. Assume no prepayments.
a. 30-year fixed at 8.5percent
b.15-year fixed at 7.5 percent
c.20-year fixed at 8 percent
.
a. The monthlypayment, PMT, on the30-year loan is $___. (Round to the nearestcent.)
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