What will be the remaining balance on the mortgage

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Reference no: EM13261952

You recently obtained a 30-year, monthly payment. $250,000 mortgage with a 7 percent nominal interest rate.

A. What will be the remaining balance on the mortgage after five years?

B. What is the dollar amount of interest to be paid on the loan in the first five years?

 

Reference no: EM13261952

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