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You have been paying on your mortgage for 15 years. You are excited that you have paid off 1/2 of your 30 year mortgage.

You have been paying on your mortgage for 15 years. You are excited that you have paid off 1/2 of your 30

You have been paying on your mortgage for 15 years. You are excited that you have paid off 1/2 of your 30 year mortgage. However, over lunch your friend tells yout that paying for 1/2 of the time won't pay of 1/2 of the mortgage. Your original loan amounts Interest rate on your loan Term of your loan What is the payment on this loan? $283,381.00 5% How much principal have you paid to the bank 30 years. How much interest have you paid in the first 15 years? What is the current balance of your loan, (how much you sill owe the bank

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