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$ 2 4 0 , 0 0 0 is borrowed at 7 . 2 5 % . Compare the monthly payment and total interest to
$ is borrowed at Compare the monthly payment and total interest to pay off the mortgage for a
year amortization and a year amortization. marks
You need a $ mortgage and have a great credit rating. The posted interest rate for the term you want is
If you amortize this mortgage over years, and negotiate the rate down to compare the monthly
payments and the total interest with each interest rate. marks
a Search the internet and find the current minimum wage. mark
b If you were to work hours a week at the current minimum wage, what is your gross pay for the week? mark
c Search the internet to find what your tax deduction would be for this gross pay. mark
d Determine your weekly net income. marks
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