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. A mortgage (loan for a house) is taken out today for 550,000at 7% compounded semi-annually. The loan will be repaid over 25years with end

. A mortgage (loan for a house) is taken out today for 550,000at 7% compounded semi-annually. The loan will be repaid over 25years with end of month payments. Determine: (3 marks) a. The sizeof the 2 answers

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