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2part question please show your work 9. A bank has an interest rate of 5% compounded semi annually for a five year closed mortgage. If

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2part question please show your work

9. A bank has an interest rate of 5% compounded semi annually for a five year closed mortgage. If the mortgage has monthly payments, calculate the effective rate of interest per each term. Calculate the present value of payments of $100.00 made at the beginning of each quarter for ten years if the interest is 6% compounded quarterly

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