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    Business Mathematics Study Set 1
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    Exam 13: Loan Amortization: Mortgages
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    Calculate the Monthly Payment for a $325,000 Mortgage at 5
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Calculate the Monthly Payment for a $325,000 Mortgage at 5

Question 92

Question 92

Short Answer

Calculate the monthly payment for a $325,000 mortgage at 5.5% compounded quarterly if amortized over 15 and 20 years.

Correct Answer:

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$2,651.21;...

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