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You wish to purchase real property. The lender will give you a $140,000 fixed-rate, 30-year mortgage at 3.5% per annum. Suppose that, before you make

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You wish to purchase real property. The lender will give you a $140,000 fixed-rate, 30-year mortgage at 3.5% per annum. Suppose that, before you make any payments, you receive a pay raise so you 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? 360 269.63 209.63 282.19 None of the above

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