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Calculate the proceeds from sale of old residence

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EVALUATE FINDINGS

Problem 1: Determine Proceeds from Sale of Old Residence

Note: You know that a 30-year mortgage, such as this, calls for mostly interest payments in the early years, and mostly principal payments in the later years. Your best estimate is that during the first 10 years of the 30, Chapman probably paid about one-fourth of the principal.

Reference no: EM132460359

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