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you wish to purchase a real property. the lender will give you $140000 fixed-rate, 30-year mortgage at 3.5% annum. Suppose that, before you make any
you wish to purchase a real property. the lender will give you $140000 fixed-rate, 30-year mortgage at 3.5% annum. Suppose that, before you make any payments, you receive a pay raise so you can pay an extra $100 per month with your normal payment. How many payments are required to fully amortize the loan assuming the extra $100 is paid each month?
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