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(Solved): You borrow $100000 for the period of 15 years with a fixed interest
rate of 4% compound monthly.
(a) ...
You borrow $100000 for the period of 15 years with a fixed interest
rate of 4% compound monthly.
(a) Compute your monthly payment.
(b) Which share of your 120-th payment will be the interest?
Hint. Compute your loan’s balance after 10 years