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Biyu takes out a $850,000.00 mortgage with a term of 4 years and an amortization period of 15 years. The interest rate on the mortgage
Biyu takes out a $850,000.00 mortgage with a term of 4 years and an amortization period of 15 years. The interest rate on the mortgage is 3.250% compounded semi-annually and she will make weekly payments. How much does she still owe when the term is over? Show your work
a. $675,107.01. b. $661,869.62. c. $794,243.54. d. $642,013.53. e. $761,150.06.
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