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You have just made an offer on a new home and are seeking a mortgage. You need to borrow $628,000 a. The bank offers a

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You have just made an offer on a new home and are seeking a mortgage. You need to borrow $628,000 a. The bank offers a 25-year mortgage with fixed monthly payments and an interest rate of 0.52% per month. What is the amount of your monthly payment if you take this loan? b. Suppose you take the 25-year mortgage described in part (a). How much will you still owe on the mortgage after 15 years? a. The bank offers a 25-year mortgage with foxed monthly payments and an interest rate of 0.52% per month. What is the amount of your monthly payment if you take this loan? Your monthly payment will be $ (Round to the nearest cent) b. Suppose you take the 25-year mortgage described in part (a). How much will you still owe on the mortgage after 15 years? The remaining loan amount will be SL (Round to the nearest cont.)

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