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You have a 2 5 - year $ 8 0 0 , 0 0 0 mortgage that you make monthly payments on . The quoted

You have a 25-year $800,000 mortgage that you make monthly payments on. The quoted rate is 4.54% compounded semi-annually. How much interest payments have you done after the first 3 payments. What is the balance of the loan at the end of year 12?

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