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To finance your new house, you have obtained a 20-year, $620,000 mortgage. The bank has offered you an interest rate of 6.8%. You can't decide
To finance your new house, you have obtained a 20-year, $620,000 mortgage. The bank has offered you an interest rate of 6.8%. You can't decide on a payment frequency. Complete the following table to help you make a decision.
| Number of Payments per Year | Mortgage Payment |
| 12 | |
| 24 | |
| 26 | |
| 52 |
Complete the table below.
| Number of Payments per Year | Mortgage Payment |
| 12 | |
| 24 | |
| 26 | |
| 52 |
(Round to the nearest cent as needed.)
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