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Determine the years required, after year ten, to retire the mortgage given the following. Initial mortgage is $150,000 Interest rate is 6% per year, compounded
Determine the years required, after year ten, to retire the mortgage given the following.
Initial mortgage is $150,000
Interest rate is 6% per year, compounded monthly
Initial term is 30 years
At the end the first ten years, the payer increases the monthly payment by $100
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