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Problem:

Determine the annual repayment schedule for the first two years (ie, interest, principal repayment, and balance owed) for each of the following: (Assume one payment annually) Compare the payments required by each mortgage.

A) $100,000 conventional mortgage for 25 years at 5%

B) $100,000 conventional mortgage for 20 years at 5%

C) $100,000 Conventional mortgage for 25 years at 6%

Describe in detail and provide all workings and methods.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147184

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