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What is the balance remaining on a 25-year $550,000 mortgage with a nominal interest rate of 3.75% after 12 months? Assume that interest is compounded
What is the balance remaining on a 25-year $550,000 mortgage with a nominal interest rate of 3.75% after 12 months? Assume that interest is compounded semi-annually and payments are made monthly. $536,407 $2,819 $522,299 $507,657 None of the options listed You are interested in buying a condominium. Your real estate agent is convinced that the condo will be worth $775,000 in 5 years. Assuming a 3% annual increase in housing prices, how much should you bid for the house? 3651,270 $668,522 3634,017 None of the options listed $898,437
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