You are arranging a $350,000 Canadian mortgage with a 25year amortization period and a 7% posted interest
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You are arranging a $350,000 Canadian mortgage with a 25·year amortization period and a 7% posted interest rate. What is the monthly mortgage payment? Suppose the bank offers you the opportunity to pay your monthly payments in two equal installments (pay one-half of the monthly payment every 2 weeks). How much faster will you pay off your mortgage this way?
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1259024962
6th Canadian edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim
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