The RBC bank has determined that based on a TDS ratio of 40% and other factors, the

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The RBC bank has determined that based on a TDS ratio of 40% and other factors, the maximum monthly mortgage payment of Tika Aaron qualifies to make $2,500. The five-year fixed rate of interest is 4.5% compounded semi-annually and the mortgage is to be amortized over 25 years. What is the maximum value of the mortgage that Tika may obtain from RBC? (Show your calculations)

Posted Date: May 17, 2024 05:09 PM

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The RBC bank has determined that based on a TDS ratio of 40% and other factors, the

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