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Problem 20-10 Consider a 30-year, $140,000 mortgage with a 6.70 percent interest rate. After thirteen years, the borrower (the mortgage issuer) pays it off. How
Problem 20-10
Consider a 30-year, $140,000 mortgage with a 6.70 percent interest rate. After thirteen years, the borrower (the mortgage issuer) pays it off. How much will the lender receive? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.) |
Lender receives | $ |
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