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What would be the outstanding balance on the loan

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Reference no: EM132990136

Question 1: Borrower takes out a 13-year mortgage loan for $429,867 with an interest rate of 6%. What would the monthly payment be?

Question 2: A borrower has a 21-year mortgage loan for $374,403 with an interest rate of 4% and monthly payments. If she wants to pay off the loan after 6 years, what would be the outstanding balance on the loan?

Reference no: EM132990136

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