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Assume that your semi-annual mortgage payment is $12,000.The original mortgage is $180,000 and the mortgage is paid off in 15 years.Determine the annual (bond-equivalent yield)
Assume that your semi-annual mortgage payment is $12,000.The original mortgage is $180,000 and the mortgage is paid off in 15 years.Determine the annual (bond-equivalent yield) interest rate of the mortgage?
Plkease show math.
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