Matt and Carla purchased a home and the mortgage is $90,000, which is amortized over...
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Accounting
Matt and Carla purchased a home and the mortgage is $90,000, which is amortized over 20 years with monthly payments. If the mortgage rate is at 11%, compounded semi-annually, what are the following details?
1) the monthly payments
2) the outstanding amount after the 20th payment
3) a partial amortization schedule to show the first and last 2 payments
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