The interest rate for the first five years of a $120,000 mortgage is 7% compounded semiannually. Monthly
Question:
a. How much will the amortization period be shortened?
b. What will be the principal balance at the end of the five-year term?
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Given PV 120000 i 7 2 35 n 1225 300 c 212 i 2 1 i C ...View the full answer
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