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The balance on a mortgage was $ 4 7 , 5 0 0 and an interest rate of 3 . 5 0 % compounded semi
The balance on a mortgage was $ and an interest rate of compounded semiannually was charged for the remaining year term. Monthly payments were made to settle the mortgage.
a Calculate the size of the monthly payments.
b If the monthly payments were set at $ how long would it take to pay off the mortgage?
c If the monthly payments were set at $ calculate the size of the final payment.
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