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What will be the monthly payment to retire the mortgage on

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You are buying a house for 250,000 a. If i make a down payment of 50,000 and mortgage the rest at 8.5% compounded monthly, what will be the monthly payment to retire the mortgage on 15 years? b. Consider the 7th payment. How much will the interest and principal payments be?

Reference no: EM13572706

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