Question: Problem # 4 A bank is offering 2 $ 1 6 0 , 7 7 5 mortgage at a quoted rate of 5 . 4

Problem #4
A bank is offering 2$160,775 mortgage at a quoted rate of 5.45%. with semi-annual
compounding. The mortgage calls for $225 weekly payments with the first payment due one
week from today.
(a) How many years is this mortgage amortized over?
Answer: 25 years
Problem #4 A bank is offering 2$160,775 mortgage at a quoted

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