10 Jean Poole wants to purchase a home for 487 850 and plans to make...
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10 Jean Poole wants to purchase a home for 487 850 and plans to make a down payment of 13 A lender offers her a rate of 2 8 compounded semi annually amortized over 25 years Show the work to calculate the down payment on this situation 2 marks a b C d e Show the work to calculate the total amount to be mortgaged 2 marks What are the monthly payments Hint Use amount to be mortgaged Calculate the total amount paid when the mortgage is over How much interest was paid over the duration of the mortgage 2 marks 1 mark 2 marks
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