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Canadian Mortgages - In Canada quoted mortgage rate are based on semi-annual compounding - However payments occur monthly - For a Canadian mortgage with semi-annual
Canadian Mortgages - In Canada quoted mortgage rate are based on semi-annual compounding - However payments occur monthly - For a Canadian mortgage with semi-annual compounding, effective rate of interest EAR - However, the interest rate must match the payment period. So, we need to turn this into a monthly interest rate Step by Step Solution
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Global Finance And The Macroeconomy
Authors: A. Makin
1st Edition
0333736982, 978-0333736982
