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The Taylors agreed to monthly payments rounded up to the nearest $ 1 0 0 on a mortgage of $ 3 3 6 , 0
The Taylors agreed to monthly payments rounded up to the nearest $ on a mortgage of $ amortized over years. Interest for the first five years was compounded semiannually. Determine the mortgage balance at the end of the fiveyear term. Hint: First, determine the required monthly mortgage payment and then round that payment up to the nearest $ Second, recalculate N a
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$
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