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Author Question: A mortgage of $198 000.00 is to be amortized by payments over 22.5 years. If the payments are made ... (Read 250 times)

genevieve1028

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Question 1

Edward Martin borrowed $15 810.00 from his uncle to finance his graduate studies. The loan agreement calls for equal payments at the end of each month for 6 years. The payments are deferred for 3 years and interest is 8.12% compounded semi-annually. What is the size of the monthly payments?

Question 2

A mortgage of $198 000.00 is to be amortized by payments over 22.5 years. If the payments are made at the end of each month and interest is 8.75% compounded semi-annually, what is the size of the monthly payments?


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Marked as best answer by genevieve1028 on Jun 6, 2019

ghepp

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genevieve1028

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Reply 2 on: Jun 6, 2019
Thanks for the timely response, appreciate it


scottmt

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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