Question: Please solve without excel, I cannot use excel in this class 17. Five years ago you bought a home and took out a 30 year

Please solve without excel, I cannot use excel in this class

17. Five years ago you bought a home and took out a 30 year mortgage for 150k at 6%. Suppose you've made monthly payments of $1200. (This may be higher than the minimum monthly payment.) a) What is the remaining principal today? b) What is the monthly payment if you would refinance the mortgage with a new 15-year mortgage at 3%

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