What is the balance or amount outstanding on the loan

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Reference no: EM132038807

You are buying a $162,000 house with a 20% down payment and a fixed-rate mortgage for the remainder at 8.75% for 30 years with monthly payments.

What is the balance or amount outstanding on the loan at the end of the fourth year?

How much total interest is due over the full term of the loan?

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Reference no: EM132038807

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