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Aaron purchased a house for $ 4 5 0 , 0 0 0 . He made a downpayment of 2 0 % of the value
Aaron purchased a house for $ He made a downpayment of of the value of the house and received a mortgage for the rest of the amount at compounded semiannually for years. The interest rate was fixed for a year term a Calculate the size of the monthly payments.
Round to the nearest cent
b Calculate the principal balance at the end of the year term..
Round to the nearest cent
c Calculate the size of the monthly payments if after the first year term the mortgage was renewed for another year term at compounded semiannually?
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