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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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