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A $340,000 mortgage at 3.60% compounded semi-annually was settled with monthly payments of $2,875. a. What is the amortization period for the mortgage? years and

A $340,000 mortgage at 3.60% compounded semi-annually was settled with monthly payments of $2,875.

a. What is the amortization period for the mortgage? years and months

b. How much will the amortization period be shortened by if weekly payments of $1,400 are made instead of the monthly payments? years and months

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