What would be the loan balance half way

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Reference no: EM131519741

You purchase a house for $200,000 by getting a mortgage for $160,000 and paying a $40,000 down payment (20%). You can get a 30 year mortgage with a 3.3% interest rate.

A. What would be your monthly payment? ______________

B. What would be the loan balance half way through in 15 years? __________________

Please show all work.

Reference no: EM131519741

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