Mr. James just purchased his home and took a €283023 mortgage. The mortgage has...
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Mr. James just purchased his home and took a €283023 mortgage. The mortgage has a 28-year maturity with equal monthly payments. The first payment will occur at the end of the first month.
Consider a 2,9% APR monthly compounded.
Compute the principal left immediately after the payment that occurs by the end of the 12thyear.
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