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h Armita has a mortgage for $731,405.00. The term of the mortgage is 4 years, and the amortization period is 15 years. Armita will make
h Armita has a mortgage for $731,405.00. The term of the mortgage is 4 years, and the amortization period is 15 years. Armita will make bi-weekly payments and the mortgage rate is r(52) = 7.750%. The bank offers Armita a flexible repayment plan, so once a year she can miss a payment or make a payment twice as large as usual. Each year, Armita misses the last payment of the year. a) How much would Armita owe at the end of the mortgage term if they didn't miss any payments? $ b) How much does Armita still owe at the end of the mortgage term (including the extra/missed payments)? $ a
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