Essay
Note: The calculations for this question were done using Excel's RATE function.
A $160 000.00 mortgage with a 20-year term is repaid by making monthly payments of $1361.00. What is the rate of interest compounded semi-annually on the mortgage?
Correct Answer:
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Nper 240
Pmt -1361.0...View Answer
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Correct Answer:
Verified
Pmt -1361.0...
View Answer
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