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Posted on Aug 02, 2024

A $ 4 5 , 0 0 0 mortgage is repaid in 2 0 years by making monthly payments of $ 3 8 7 .

A $

45, 000

mortgage is repaid in

20

years by making monthly payments of $

387.72 .

What is the nominal annual rate of interest compounded semi

-

annually? Using TI BA II Calculator

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