A $135 000 mortgage is amortized by making monthly payments of $974.37. If interest is 4.92% compounded

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A $135 000 mortgage is amortized by making monthly payments of $974.37. If interest is 4.92% compounded semi-annually, for how many years is the term of the mortgage?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 04:01 AM

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A $135 000 mortgage is amortized by making monthly payments of $974.37. If interest is 4.92% compounded

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PV 135 00000 PMT97437 i 246 c 016 1212120 p 102460161010040591...View the full answer

Contemporary Business Mathematics with Canadian Applications

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