Find the monthly payment needed to amortize the principal and interest for the fixed-rate mortgage. Use either

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Find the monthly payment needed to amortize the principal and interest for the fixed-rate mortgage. Use either the regular monthly payment formula or the given table.

Loan Amount	Interest Rate	Term
$81,000	5.5%	15 years

Loan Amount

Interest Rate

Term

$81,000

5.5%

years

Related Book For answer-question

Introduction to Finance Markets Investments and Financial Management

ISBN: 978-1118492673

15th edition

Authors: Melicher Ronald, Norton Edgar

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Posted Date: Feb 26, 2024 03:20 AM

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Find the monthly payment needed to amortize the principal and interest for the fixed-rate mortgage. Use either

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Introduction to Finance Markets Investments and Financial Management

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