Question: Please show all work and do not use excel, thanks! 8. A 30 year, monthly payment mortgage of $500000 is offered at a nominal annual

Please show all work and do not use excel, thanks!

Please show all work and do not use excel, thanks! 8. A

8. A 30 year, monthly payment mortgage of $500000 is offered at a nominal annual rate of 8.4% convertible monthly. Find (a) the monthly level payments; (b) the total principal repaid as well as the total amount of interest paid over the entire lifetime of the loan; (c) the outstanding balance after 5 years; (d) the principal repaid as well as the amount of interest paid over the first 5 years

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