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Mr. & Mrs. Gruber borrowed $500,000 from BMO to buy a house in Laval, Quebec. The mortgage rate is quoted at 4% (QR), with semi-annual
Mr. & Mrs. Gruber borrowed $500,000 from BMO to buy a house in Laval, Quebec. The mortgage rate is quoted at 4% (QR), with semi-annual compounding, and equal bi-weekly payments (assuming 52 weeks per year). The loan is to be amortized over 25 years.
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
