Lynne buys a condo in downtown Toronto for $650000. She needs a mortgage for $350000. Her bank is offering an interest rate of 5% compounded semi-annually for a 3 year term. Lynne negotiates to make monthly payments of $2900. How much of the $350000 mortgage does Lynne still owe at the end of the 3-year Term?

Answer rating: 100% (QA)

To calculate how much of the 350000 mortgage Lynne still owes at the end of the 3year term we can us... View the full answer