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    Business Mathematics Study Set 1
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    Exam 11: Annuities: Periodic Payment, Number of Payments, and Interest Rate
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    Brian Has a Mortgage of 150,000 on Which He Is
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Brian Has a Mortgage of 150,000 on Which He Is

Question 23

Question 23

Short Answer

Brian has a mortgage of 150,000 on which he is making monthly payments of $1,200 for 20 years. What rate of interest compounded quarterly is Brian paying?

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7.45% comp...

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