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Gert needs to borrow $410,000 to purchase a home. He is able to obtain a...

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Finance

Gert needs to borrow $410,000 to purchase a home. He is able to obtain a fifteen year mortage with a fixed-rate of 3.0%. What is his monthly payment?

Please complete the first rows of the amortization table (enter positive values with no commas):

Amortization Table
n Principal Balance INTEREST Excess Payment Principal Remaining

If Gert started this mortgage at the beginning of December, how much interest would he pay during its first calendar year?

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