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You plan to get a mortgage for a new house. The mortgage is $750,000 and runs for 30 years. A.) Calculate the monthly payment if
You plan to get a mortgage for a new house. The mortgage is $750,000 and runs for 30 years.
A.) Calculate the monthly payment if you have to pay 3% APR
B.) Calculate the monthly payment if you have to pay 3% EAR
C.) Which of the two mortgages would you prefer? Explain.
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