A $200,000 mortgage loan at 6.6% compounded semiannually has a 25-year amortization period. a. Calculate the monthly

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A $200,000 mortgage loan at 6.6% compounded semiannually has a 25-year amortization period.

a. Calculate the monthly payment

b. If the interest rate were 1% lower (that is, 5.6% compounded semiannually), what loan amount would result in the same monthly payment? Round your answer to the nearest dollar.

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 04:27 AM

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A $200,000 mortgage loan at 6.6% compounded semiannually has a 25-year amortization period. a. Calculate the monthly

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Given PV 200000 n 1225 300 a b Given Given i 86 33 ...View the full answer

Fundamentals Of Business Mathematics In Canada

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