Question: A house is acquired through Infonavit credit whose monthly payment is $9051.73 plus VAT and it is known that Infonavit credits are granted for 15

A house is acquired through Infonavit credit whose monthly payment is $9051.73 plus VAT and it is known that Infonavit credits are granted for 15 years at a compound interest rate of 6.42% semiannually compounded monthly.

a) How much is the total debt on the home.

b) Calculate the initial value of the home.

c) If the monthly payment is made of $14,272,888, how long will it take to pay off the home?

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