Question
A 22-year mortgage is amortized by payments of $1,761.50 made at the end of each month. If interest is 9.65% compounded semi-annually, what is the
A 22-year mortgage is amortized by payments of $1,761.50 made at the end of each month. If interest is 9.65% compounded semi-annually, what is the mortgage principal?
a.$195,371.78
b.$159,863.78
c.$195,313.78
d.$195,163.78
e.$159,633.78
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International Financial Management
Authors: Cheol S. Eun, Bruce G.Resnick
6th Edition
71316973, 978-0071316972, 78034655, 978-0078034657
