Multiple Choice
The Adamson household is considering paying off a $350,000 mortgage with either monthly payments over 25 years, or weekly payments made at the start of each week over a 25 years. If interest is 7.2% compounded semi-annually, determine how much interest would be saved with the weekly payments made at the beginning of the week.
A) $1,695.93
B) $1,840.53
C) $2,005.83
D) $2,348.72
E) $2,840.43
Correct Answer:
Verified
Correct Answer:
Verified
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