Jane Pearman bought a house in Barrie for $850,000 that includes her down payment. To help finance

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Jane Pearman bought a house in Barrie for $850,000 that includes her down payment. To help finance the purchase she took out a mortgage at 7.245 % compounded semi-annually that will be repaid with monthly payments (end) of $1,234.56 over 25 years.

Determine:

a) the size of the mortgage

b) the size of the down payment

c) the amount of interest paid (in $) on the mortgage over the 25 years

Related Book For answer-question

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Nov 28, 2023 01:29 AM

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Jane Pearman bought a house in Barrie for $850,000 that includes her down payment. To help finance

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a The size of the mortgage is 850000 100000 750000 b The si... View the full answer

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