Out fixed rate mortgage, At some point in the past, you

Out fixed rate mortgage

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Reference no: EM131859953

At some point in the past, you took out a fixed rate mortgage. Today this mortgage has a balance of $125,000 and has 27 years term remaining (monthly payments.) If the interest rate on this loan is 4.5%, what are your monthly payments? What will the balance be on this loan after 5 more years have passed (i.e. after 60 more payments?)

Reference no: EM131859953

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