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Determine the total of their payments over the full term

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Reference no: EM132930718

A family takes a 15-year mortgage of $200000 for their new home, at 6.8% compounded monthly.

Problem a. Determine their monthly payments.

Problem b. Determine the total of their payments over the full term.

Problem c. If they take a 30-year mortgage,

i. Determine their monthly payments.

ii. Determine the total of their payments over the full term.

Reference no: EM132930718

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