Question $8$

$10$ pts

For a $30-$year mortgage of $$290,000$ borrowed under a $3\%$ APR, monthly payments, what would the principal balance be with $8$ years left until the maturity of the loan?

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Question $9$

$10$ pts

Consider a $$23,000,$ three$-$year loan at an interest rate of $4\%,$ payments to be made monthly. What is the monthly payment using add$-$on interest?

Note: Show your answer in units of dollars, use plain numbers with at