End of Chapter 18 Questions and Answers

19. What is the mortgage balance on a $75,000 loan after 5 years with an original term of 30 years a 10% contract rate, and monthly payments? Answer: $72,430.73. 20. How much interest would be paid on problem #19 if paid over the full term? Answer: $161,944.80 = $681.52 times 360 less $75,000. 21. ................
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