Question: Use the TVM Solver to solve the following problems. Include the completed TVM Solver template with your solutions (basically fill in the table provided with
Use the TVM Solver to solve the following problems. Include the completed TVM Solver template with your solutions (basically fill in the table provided with each question with the values you entered into the calculator and your solution). The solution space will obviously need to be left blank in the chart, just record the answer in the final solution space below. N= 1. Mr. Wong takes out a $180 000 mortgage to purchase a new house. The interest rate is 6.4% /a, compounded semi-annually. He makes monthly payments of $1200.00 1% = PV = a) How long will it take to pay off the mortgage? PMT= FV = /4 PY solution : CHY b) How much interest is paid over the life of the mortgage? 12
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