What is the monthly payment

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Reference no: EM131806465

A $92,000 mortgage has a 30-year term and a 9% nominal interest rate.

(a) What is the monthly payment?

(b) After the first year of payments, what fraction of the loan has been repaid?

(d) How much interest is paid in Month 25? How much principal?

Reference no: EM131806465

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