Essay
Note: The calculations for this question were done using Excel's RATE function.
A $345 000.00 mortgage is repaid in 19 years by making monthly payments of $2486.44. What is the nominal annual rate of interest compounded semi-annually?
Correct Answer:
Verified
Nper 228
Pmt -2486.44
PV 34500...View Answer
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Correct Answer:
Verified
Nper 228
Pmt -2486.44
PV 34500...
Pmt -2486.44
PV 34500...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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