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Find the total of their payments over the full term

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Reference no: EM132931246

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

Question a. Determine their monthly payments.

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

Question 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: EM132931246

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