Suppose you have taken out a $80,000 fully amortizing fixed rate mortgage loan that has a term

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Suppose you have taken out a $80,000 fully amortizing fixed rate mortgage loan that has a term of 30 years and an annual interest rate of 6% with monthly compounding. In year 3 of the mortgage, how much principal is paid and how much interest is paid?

Posted Date: May 18, 2024 11:16 PM

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Suppose you have taken out a $80,000 fully amortizing fixed rate mortgage loan that has a term

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