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Calculate what monthly payments would be

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You are a financial consultant and need to provide information to a client who would like to renew his mortgage. The loan amount is $462,000 and the new mortgage agreement will start on Oct 1, 2020.

Problem 1: Calculate what his monthly payments would be if the loan was amortized over the following terms:

a. 10 years
b. 20 years
c. 25 years

Reference no: EM132688369

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