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You are interviewing with one of the largest mortgage brokerage firms. Your future boss asks you to analyze a $150,000 mortgage with 10 years to

You are interviewing with one of the largest mortgage brokerage firms. Your future boss asks you to analyze a $150,000 mortgage with 10 years to maturity and monthly payments of $2,000 (120 payments)
1. What is the monthly rate on the loan?
2. Break down the 10^th payment to principal payment and interest payment.
3. What is the outstanding balance of the loan after 5 years?

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