Question: PROBLEM 3 : Consider 2 0 0 , 0 0 0 , 3 0 - year mortgage, annual interest rate 1 0 % , end

PROBLEM 3:
Consider 200,000,30-year mortgage, annual interest
rate 10%, end of month payments.
A.Determine the equal monthly payment
required each month over the life of the loan
to repay fully during the term of the loan.
B. How much will you pay over the course of
the loan? What is the total amount of interest
paid?
C. With 5-years left on the loan, how much will
you still owe?
PLEASE use excel for this!!
PROBLEM 3: Consider 200,000,30-year mortgage, annual interest rate 10%, end of

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