A fully amortizing mortgage loan is made for $120,000 at 6 percent interest for 30...
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A fully amortizing mortgage loan is made for $120,000 at 6 percent interest for 30 years. Required: a. How much total interest would be paid over the entire 30-year life of the mortgage, if interest is paid: 1. Monthly. 2. Quarterly 3. Annually 4. Weekly (For all requirements, round your intermediate calculations and final answers to 2 decimal places.) b. Which payment pattern would have the greatest total amount of interest over the 30-year term of the loan
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