How much are the monthly mortgage payments

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Reference no: EM133115817

A 100,000.00 mortgage has a 25-year amortization, at 3% interest compounded annually with a monthly mortgage payment.

a. How much are the monthly mortgage payments?

b. After 5 years (60 months) how much is the outstanding balance?

c. How much interest has been paid to the lender?

Reference no: EM133115817

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