Question: Your $ 6 9 0 0 0 0 . 0 0 monthly mortgage is amortized over 3 0 years. Interest is 5 . 4 %
Your $ monthly mortgage is amortized over years. Interest is compounded semiannually for a fouryear term. Four years pass and it is up for renewal. Interest rates exploded higher to an astonishing compounded semiannually for a fouryear term. Reluctantly, you lock in at this new rate.
How much more will you pay every month for your mortgage?
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