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Suppose Scotiabank is offering a mortgage with an annual EAR of 6 . 9 9 % . If you plan to borrow $ 2 0

Suppose Scotiabank is offering a mortgage with an annual EAR of

6.99 % .

If you plan to borrow $

20, 000,

what will your monthly payment assume a

20 -

year amortization?

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