Question 4 of 13 Joseph received a 25 year loan of $275,000 to purchase a...
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Question 4 of 13 Joseph received a 25 year loan of $275,000 to purchase a house. The interest rate on the loan was 5.70% compounded monthly. a. What is the size of the monthly loan payment? $0.00 Round to the nearest cent Round to the nearest cent b. What is the principal balance of the loan at the end of 4 years? $0.00 Round to the nearest cent c. By how much will the amortization period shorten if Joseph made an extra payment of $52,000 at the end of the year 4? 0 years months Express the answer in years and months, rounded to the next month Next Question g t * Alto ho
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