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Question A family has a $112,120, 15-year mortgage at 5.4% compounded monthly. Find the monthly payment. Also find the unpaid balance after 5 years and after 10 years.

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Question

A family has a $112,120, 15-year mortgage at

5.4% compounded monthly. Find the monthly payment. Also find the unpaid balance after 5 years and after 10 years.

 
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