Marie Nixon is interested in purchasing a new home and is comfortable with monthly payments of no

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Marie Nixon is interested in purchasing a new home and is comfortable with monthly payments of no more than $2,950. Marie settles on a lovely country house with a mortgage of $154,000 and an interest rate of 4% compounded semi-annually.

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If Marie makes monthly mortgage payments of $2,950, how long will it take to pay off the mortgage? Please provide your answer in years and months.

Related Book For answer-question

Principles Of Managerial Finance

ISBN: 978-0136119463

13th Edition

Authors: Lawrence J. Gitman, Chad J. Zutter

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Posted Date: May 14, 2024 01:52 AM

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Marie Nixon is interested in purchasing a new home and is comfortable with monthly payments of no

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Principles Of Managerial Finance

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