You have borrowed $770,000 to buy a new condo. The mortgage will be amortized over 20 years. The term of the mortgage is 4 years. The quoted rate is 6.9% compounded semi-annually. You will make weekly payments. The payments will be paid at the end of each week. 

What is the effective weekly rate of interest you are paying?

Answer rating: 100% (QA)

Heres how to find the effective weekly rate of interest youre paying on your mortgage 1 Define the p... View the full answer