A mortgage of $120 000 is to be repaid by making payments of $751 at the end

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A mortgage of $120 000 is to be repaid by making payments of $751 at the end of each month. If interest is 5.75% compounded semi-annually, what 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 04:00 AM

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A mortgage of $120 000 is to be repaid by making payments of $751 at the end

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PV 120 00000 PMT 75100 i 2875 c 212 16 p 102875 16 1 1004735 1 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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