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Kayleigh has a $170,000 mortgage at (12) = 3.6% amortized over 25 years. When making her 11th payment, Kayleigh decided to double the size
Kayleigh has a $170,000 mortgage at (12) = 3.6% amortized over 25 years. When making her 11th payment, Kayleigh decided to double the size of just that one payment. Her 12th payment was back to the regular level. By making that extra large payment, how much interest did Kayleigh save on her mortgage?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
