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Determine the balance of their mortgage at the end

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Question - Harry and Sally sign a mortgage for $150,000.00 at 9% c.s.a. to be amortized over 25 years in equal monthly payments with a term of 4 years. On the second and third anniversary of their mortgage, they make a $25,000 extra payment without penalty. Determine the balance of their mortgage at the end of the term.

Reference no: EM132546926

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