Question: A 3 0 - year mortgage for $ 1 6 5 , 0 0 0 is issued at a 6 % nominal interest rate. [

A 30-year mortgage for $165,000 is issued at a 6% nominal interest rate. [5]
a. What is the monthly payment?
b. How long does it take to pay off the mortgage if $2000 per month is paid?
c. How long does it take to pay off the mortgage if $2200 is paid each month?

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