What will be the interest for payment number

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Reference no: EM131897066

1. "Suzan is considering buying a home for $256,000. If she makes a down payment of $78,000 and takes out a mortgage on the rest of the money at 6.28% compounded monthly for 19 years, what will be the interest for payment number 114? Assume she makes monthly payments. ".

2. "If the nominal interest rate is 9.1% compounded daily, what is the required quarterly payment to repay a loan of $22,000 in 10 years? Assume 91 days per quarter."

Reference no: EM131897066

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What will be the interest for payment number : what will be the interest for payment number 114? Assume she makes monthly payments.

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