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Determine the annual repayment schedule for the first two years for each of the following. Compare the payments required by each mortgage. What conclusions can you draw?

a) A $60,000 conventional mortgage for 25 years at 10 percent

b) a $60,000 conventional mortgage for 20 years at 10 percent

c) a $60,000 conventional mortgage for 25 years at 8 %

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