Henry received a mortgage of $80,000 that was amortized over three years and fixed at an interest
Question:
Henry received a mortgage of $80,000 that was amortized over three years and fixed at an interest rate of 2.75% compounded semi-annually.
a. What was the size of the monthly payments if they were rounded up to the next $500?
b. What was the size of the final payment (if the rounded payments from
(a) were made)?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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