Question
Tony is considering purchasing a $690,000 home with a 25% down payment. The mortgage rate that Tony will pay is 4.98% and he will have
Tony is considering purchasing a $690,000 home with a 25% down payment. The mortgage rate that Tony will pay is 4.98% and he will have an amortization of 25 years. If Tony chooses to make accelerated bi-weekly payments on his mortgage, approximately how many months will the total amortization schedule of the mortgage be reduced by?
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Accelerated biweekly payments can help reduce the total amortization schedule of a mortgage because ...
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
