What will be mortgage balance

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Reference no: EM131997757

1. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with annual payments for $135,000 at 5.25%. How much does Ann need to pay annually?

2. Ann obtains a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $135,000 at 5.25%. What will be Ann’s mortgage balance after 20 years of payments (ie after 240 months)?

Reference no: EM131997757

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