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Sam decided to take loan of $250,000 for 30 years at the rate of 6%. In...

Sam decided to take loan of $250,000 for 30 years at the rate of 6%. In an amortization schedule, the percentage of each payment that goes toward interest diminishes a bit with each payment and the percentage that goes toward principal increases. Use any Amortization schedule online to answer following questions:

a. What is the monthly payment?

b. What will be the balance at the end of 5 years?

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