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gewusel gewusel
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6 years ago
A $180 000.00 mortgage is to be amortized by making monthly payments for 22.5 years. Interest is 7.2% compounded semi-annually for a four-year term.
a) Compute the size of the monthly payment.
b) Determine the balance at the end of the four-year term.
c) If the mortgage is renewed for a five-year term at 8.66% compounded semi-annually, what is the size of the monthly payment for the renewal term?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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josanjosan
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6 years ago
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gewusel Author
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6 years ago
Thanks
lipop
wrote...

Yesterday
Brilliant ツ
MAry1395
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2 hours ago
Good timing, thanks!
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