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Consider a mortgage loan of $200,000 at the annual mortgage rate of 5.2%, for a term of 20 years, requiring equal mortgage payments every two
- Consider a mortgage loan of $200,000 at the annual mortgage rate of 5.2%, for a term of 20 years, requiring equal mortgage payments every two weeks and interest compounding is every two weeks. Calculate:
(i) two weekly mortgage payments,
(ii) total principal paid in first five years,
(iii) total interest paid in first five years.
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