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Posted on Sep 28, 2024

$ 3 4 0 , 0 0 0 mortgage at 3 . 6 0 % compounded semi - annually was settled with monthly payments of

340, 000

mortgage at

3.60 %

compounded semi

-

annually was settled with monthly payments of $

2, 125 .

What is the amortization period for the mortgage? How much will the amortization period be shortened by if weekly payments of $

1, 100

are made instead of the monthly payments?

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