The Clooneys got a $720,000 mortgage amortized over 25 years with an interest rate of 4.5% compounded
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Question:
- The Clooneys got a $720,000 mortgage amortized over 25 years with an interest rate of 4.5% compounded semi-annually for the first 3-year term. They would like to pay on a biweekly basis.
- How much is their biweekly payment?
- What is the balance of the mortgage after the first 3-year term?
- How much interest did they pay within the term?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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