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Please solve the problem in excel and show the formula for solution kindly.
3) (10 pts)a) A 10-year mortgage for $95,000 is issued at a 6% annual interest rate. bc (((a) What is the monthly payment?( How long does it take to pay off the mortgage, if $1500 per month is paid?( )) What is the monthly payment, if the interest rate is 0.5% per month?
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