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What is monthly payment

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Reference no: EM133070743

Determine the following using the exercise 4 tab. You must use embedded excel formulas for this exercise.

1. I borrow $275,000 at 8% for 9 years. If the loan is amortized, what is my monthly payment?

2. Assuming the same loan as mentioned in exercise 4, part 1, what is the interest payment for the 68'" month?

3. Assuming the same loan as mentioned in exercise 4, part 1, what is the principal payment for the 58nd month?

Reference no: EM133070743

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