A mortgage of $161000 is to be repaid by making payments of $1191 at the end of each month. if interest is 3.62% per annum compounded semi-anually what is the term of the mortgage? State your answer in years and months (from 0 to 11 months).
A mortgage of $161000 is to be repaid by making payments of $1191 at the end of each month. if interest is 3.62% per annum compounded semi-anually what is the term of the mortgage? State your answer in years and months (from 0 to 11 months).
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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A mortgage of $161000 is to be repaid by making payments of $1191 at the end of each month. if interest is 3.62% per annum compounded semi-anually what is the term of the mortgage? State your answer in years and months (from 0 to 11 months).
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