A 20-year mortgage of $250,000 at 5.75% interest compounded monthly, with two discount points, has a monthly

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A 20-year mortgage of $250,000 at 5.75% interest compounded monthly, with two discount points, has a monthly payment of $1755.21. Show that the APR for this mortgage is 6%?

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Finite Mathematics and Its Applications

ISBN: 978-0134768632

12th edition

Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair

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Question Posted: Feb 12, 2018 09:25 AM

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A 20-year mortgage of $250,000 at 5.75% interest compounded monthly, with two discount points, has a monthly

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