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You just took a mortgage of $100,000 for 20 years and your interest rate is 7.5% APR compounded monthly (with monthly payments). What are your
You just took a mortgage of $100,000 for 20 years and your interest rate is 7.5% APR compounded monthly (with monthly payments). What are your monthly payments? If you would like to pay off the remaining balance after 7 years, how much would you be required to pay?
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