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To finance your new house, you have obtained a 25-year, $710,000 mortgage. The bank has offered you an interest rate of 5.9%. You can't decide
To finance your new house, you have obtained a
25-year,
$710,000
mortgage. The bank has offered you an interest rate of
5.9%.
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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