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A $120,000 mortgage with an interest rate of 4.9 percent compounded semi-annually has a monthly payment of $700.13 for 21.0 years. Calculate the number
A $120,000 mortgage with an interest rate of 4.9 percent compounded semi-annually has a monthly payment of $700.13 for 21.0 years. Calculate the number of years to pay off the mortgage if payments are made on an accelerated biweekly basis instead of monthly. It will require 21.0 years to pay off the mortgage if payments are made on an accelerated biweekly basis. (Round to one decimal place.)
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QUESTION 1 It will require 211years to pay off the mortgage if p...
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
