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    Mortgage Amortization Process

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    For this problem, you solve for MP.
    MB = $200,000
    I = 4.2% yearly rate. Note: you want to convert to monthly rate for the above model as we did in class.
    n = 15 year mortgage (you want to convert to monthly).

    Use process shown in attached file

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    Solution Summary

    The expert examines mortgage amortization processes.