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You need to borrow $400,000 tp buy your condo. A Canadian bank has offered her a mortgage with monthly payments, to be paid over 20

You need to borrow $400,000 tp buy your condo. A Canadian bank has offered her a mortgage with monthly payments, to be paid over 20 years. For the initial 3 year term, the bank has offered a quoted annual rate of 6.4% compounded semi-annually. REQUIRED: a) Calculate the amount of the monthly mortgage payments for the doctor to the nearest cent. Show your calculations. Answer

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