Rebecca is applying for a $300,000 mortgage with the following terms: interest = 4% fixed, semi-annual compounding;

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Rebecca is applying for a $300,000 mortgage with the following terms: interest = 4% fixed, semi-annual compounding; amortization = 30 years; monthly payment = $1,426.56.

What would be her monthly payment if she amortizes the mortgage over 15 years?

How to use financial calculator to calculate it?

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Personal Finance

ISBN: 978-0134724713

4th Canadian edition

Authors: Jeff Madura, Hardeep Singh Gill

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Posted Date: Jul 07, 2023 01:33 AM

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Rebecca is applying for a $300,000 mortgage with the following terms: interest = 4% fixed, semi-annual compounding;

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SOLUTION To calculate Rebeccas monthly payment if she amortizes the mortgage over 15 years we can us... View the full answer

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