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jadinh jadinh
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A year ago
A $100,000 mortgage loan has a 25-year amortization.


a) Calculate the monthly payment at interest rates of 4%, 6%, and 8% compounded semiannually.
b) By what percentage, to the nearest 0.01%, does the monthly payment on the 8% mortgage exceed the monthly payment on the 4% mortgage?
c) Calculate the total interest paid over the entire 25-year amortization period at each of the three interest rates. (Assume the final payment equals the others.)
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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bodie1980bodie1980
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A year ago
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jadinh Author
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A year ago
Brilliant ツ
lierac00
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Just got PERFECT on my quiz
Loruiz15
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You make an excellent tutor!
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