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Wing Sze takes out a $500,000.00 mortgage with a term of 3 years and an amortization period of 20 years. The interest rate on the
Wing Sze takes out a $500,000.00 mortgage with a term of 3 years and an amortization period of 20 years. The interest rate on the mortgage is 3.250% compounded monthly and she will make weekly payments. How much does she still owe when the term is over? Show your work
a.
$461,808.93.
b.
$444,047.05.
c.
$364,118.58.
d.
$457,368.46.
e.
$448,487.52.
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