Question: compounded annually Problem 12: You just took a 20-year mortgage with 0.4% monthly interest rate (monthly compounded APR=4.8%) and $C monthly payments. Right after you

compounded annually

Problem 12: You just took a 20-year mortgage with 0.4% monthly interest rate (monthly compounded APR=4.8%) and $C monthly payments. Right after you took the mortgage, you decided to double your monthly payments. How soon (in months) will you repay the mortgage

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