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A $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at

A $120,000.00 mortgage is amortized over 25 years. If interest on the mortgage is 8.5% compounded semi-annually, calculate the size of monthly payments made at the end of each month.

Select one:

a. $1,908.88

b. $594.22

c. $954.44

d. $747.44

e. $477.22

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