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You bought a house 8 years ago with a $250,000 mortgage. It was a 15 year loan with monthly payments which will pay off the
You bought a house 8 years ago with a $250,000 mortgage. It was a 15 year loan with monthly payments which will pay off the loan when you make the last payment. The interest rate was 6%. What are your monthly payment and your current loan balance? How much interest will you pay in the upcoming year?
Please show all work, preferably in excel
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