Provide an appropriate response.The Krishnans amortize a loan of $150,000 for a new home by obtaining a 40-year mortgage at the rate of 10.2% compounded monthly. Find (a) the monthly payment, (b) the total interest charges, and (c) the principal remaining after 15 years.

What will be an ideal response?


(a)$1297.32(b)$472,713.60(c)$140,579.48

Mathematics

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A.

B.

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D.

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