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Calculate the principal portion in the monthly payment

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Question - A $200,000 real estate mortgage is to be repaid with monthly payments at 12% interest convertible monthly over 30 years.

(a) Calculate the principal portion in the 100th monthly payment.

(b) Calculate the total principal repaid in the 100th to 200th monthly payments,

(c) Calculate the sum of the present value of the interest payments made in the 100th to 200th monthly payments.

Reference no: EM133079834

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