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A 30 -year, $425,000 mortgage at 1.80% compounded quarterly was settled with monthly payments. a. What is the size of the monthly payments? b. How
A 30 -year, $425,000 mortgage at 1.80% compounded quarterly was settled with monthly payments. a. What is the size of the monthly payments? b. How much will the amortization period be shortened by if weekly payments of $650 are made instead of the monthly payments? years months Express the answer in years and months, rounded to the next payment period c. How much interest will be saved if the weekly payments of $650 are made instead of the monthly payments? Round to the nearest cent
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