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Calculate the monthly payment for a cpm loan

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Reference no: EM133557722

A fully amortizing mortgage loan is made for $101,000 at 6 percent interest for 20 years

a. calculate the monthly payment for a CPM loan

b. What will the total of payments be for the entire 20 year period? of this how much will be the interest?

c. Assume the loan is repaid at end of 8 years. what will be the outstanding balance? how much total interest?

Reference no: EM133557722

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