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You have taken the same mortgage as in question 1 , except with Monthly Payments instead of annual payments. What is the amount of monthly

You have taken the same mortgage as in question

1,

except with Monthly Payments instead of annual payments. What is the amount of monthly interest paid on the

30

th Monthly payment on this mortgage? What is theprincipal reduction in the mortgage loan balance on the

20

th Monthly payment on this mortgage?

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