The interest rate on a 25-year, $370,000.00 mortgage is 5.20% compounded semi- annually. Calculate the amount...

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The interest rate on a 25-year, $370,000.00 mortgage is 5.20% compounded semi- annually. Calculate the amount of interest saved if the mortgage was settled with month-end payments in 16 years instead of month-end payments in 25 years. Note: Round the month-end payments to the nearest cent. Round to the nearest cent The interest rate on a 25-year, $370,000.00 mortgage is 5.20% compounded semi- annually. Calculate the amount of interest saved if the mortgage was settled with month-end payments in 16 years instead of month-end payments in 25 years. Note: Round the month-end payments to the nearest cent. Round to the nearest cent

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To calculate the amount of interest saved by settling the mortgage in 16 years instead of 25 years w... View the full answer