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percent fi xed-rate 30-year mortgage loan. b. Calculate the monthly amortization payment if the loan in (a) was for 15 years. 9-15) 15. Assume a bank loan requires an interest payment of $85 per year. and a principal payment of $1,000 at the end of the loan’s eight-year life. a. At what amount could this loan be sold for to another bank if ... ................
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