A fifteen year monthly payment mortgage loan for 250,000 is offered at a nominal rate...
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Accounting
A fifteen year monthly payment mortgage loan for 250,000 is offered at a nominal rate of 6% convertible monthly. Find (a) the monthly payment (b) the total principal and interest that would be paid on the loan over 15 years (c) the balance in 5 years (d) the principal and interest paid over the first 5 years.
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