Question: Please try to answer all the questions Jake is interested in buying a reptile shop and naming it Jake's Snakes. The asking price is $300,000.

Please try to answer all the questions

Jake is interested in buying a reptile shop and naming it Jake's Snakes. The asking price is $300,000. However, Jake has only managed to save $60,000. The rest of the funds will be provided by way of a $240,000 mortgage loan at an interest rate of 7.25% per annum, compounded weekly. The loan will be fully amortized over a 15-year period with monthly payments, rounded up to the next higher $100. Jake is interested in buying a reptile shop and naming it Jake's Snakes. The asking price is $300,000. However, Jake has only managed to save $60,000. The rest of the funds will be provided by way of a $240,000 mortgage loan at an interest rate of 7.25% per annum, compounded weekly. The loan will be fully amortized over a 15-year period with monthly payments, rounded up to the next higher $100

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