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The monthly payment required to be made is Amortization
Here, we need to calculate the monthly payments that turners must make as a result of the purchase of house with mortgage agreement
Given information are
In conclusion, the monthly payments which is required of turners to make is an amortization because invovles the process of paying off s debt through scheduled installments using component of the principal & interest for calculation.
Learn more about how Amortization here
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