A mortgage of $26 500 is to be repaid by making payments of $1560 at the end

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A mortgage of $26 500 is to be repaid by making payments of $1560 at the end of every six months. If interest is 7% 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 03:56 AM

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A mortgage of $26 500 is to be repaid by making payments of $1560 at the end

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PV n 26 50000 PMT 156000 i 35 n In0405449 In1035 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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