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Amortization schedule-term and monthly payments

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Reference no: EM132467991

A borrower has a fully amortizing loan for $80k, 6% interest rate with a 25-year amortization schedule/term and monthly payments. Calculate (SHOW ALL MATH):

a. Monthly payments

b. Interest and principal payments in month 1

c. Total interest and principal over 25 years.

d. The outstanding loan balance if the loan is repaid at the end of year 10.

Reference no: EM132467991

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