Question: Answer correct with all steps. A borrower took out a 30-year fixed-rate mortgage of ( $ 2.25 ) million at 7.2 percent annual rate. Affer

Answer correct with all steps. A borrower took out a 30-year fixed-rate mortgage of $ \$ 2.25 $ million at 7.2 percent annual rate. Affer five years. he wishes to pay off the remaining balance. Interest rates have by then fallen 2 answers

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