Question: Karl and Marta can afford $850.00 a month for mortgage payments. They can arrange a mortgage at a rate of 5.2% compounded semi-annually, amortized

Karl and Marta can afford $850.00 a month for mortgage payments. They can arrange a mortgage at a rate of

Karl and Marta can afford $850.00 a month for mortgage payments. They can arrange a mortgage at a rate of 5.2% compounded semi-annually, amortized over 25 years. Determine the amount of mortgage that Karl and Marta can get. How much interest will they pay over the life of the mortgage?

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