Dylan received a 30 year loan of $275,000 to purchase a house. The interest rate...
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Dylan received a 30 year loan of $275,000 to purchase a house. The interest rate on the loan was 2.00% compounded monthly. a. What is the size of the monthly loan payment? $0.00 Round to the nearest cent b. What is the principal balance of the loan at the end of 3 years? $ $0.00 Round to the nearest cent c. By how much will the amortization period shorten if Dylan made an extra payment of $51,000 at the end of the year 3? 0 years 0 months Express the answer in years and months, rounded to the next month
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