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A 3 0 - year mortgage for $ 1 7 5 , 0 0 0 is issued at a 6 % nominal interest rate. (
A year mortgage for $ is issued at a nominal interest rate.
a What is the monthly payment?
b How long does it take to pay off the mortgage, if $ per month is paid?
c How long does it take to pay off the mortgage, if double payments are made?
the answer at the back of the book shows
a payment $ b months,c months
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