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Ocean Spray has applied for a mortgage of $206,000. Interest is computed at 4.5 percent compounded semiannually. The mortgage will be paid off over 25
Ocean Spray has applied for a mortgage of $206,000. Interest is computed at 4.5 percent compounded semiannually. The mortgage will be paid off over 25 years. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations and round the final answers to 2 decimal places.)
a. Calculate Oceans monthly payment.
Monthly payment $
b. Calculate Oceans weekly payment.
Weekly payment $
c. Calculate Oceans biweekly (every 2nd week) payment.
Biweekly payment $
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