A mortgage can take up to 25 years to pay off. Taking a $ 250,000...
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A mortgage can take up to 25 years to pay off. Taking a $ 250,000 home, Calculate the month-end payment for 15-,20- and 25- year periods using semiannually compounded interest rates of 4%, 5.5%, and 7% for each period. What do you observe from your calculations?
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