What is monthly mortgage payment

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Reference no: EM131911722

1. You borrow $149,000 to buy a house. The mortgage rate is 7.5% and the loan period is 30 years. Payments are made monthly. What is the monthly mortgage payment?

2. If you have $20000 in an account earning 8% annually, what constant amount could you withdraw each year and have nothing remaining at the end of 5 years?

Reference no: EM131911722

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