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You obtain a loan of $ 5 0 0 , 0 0 0 from a bank to buy a house. The mortgage has a 5
You obtain a loan of $ from a bank to buy a house. The mortgage has a year term with a fixed rate of year using Canadian mortgage conventionFind the expression for the present value of the principal repayment for the month
t mortgage payment ie a general expression for any given month t Is this
present value constant over different months? What is the total present value of
the interest portion of the mortgage payments?
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