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A mortgage of $124,000 is to be repaid by making payments of $1021 at the...

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Accounting

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A mortgage of $124,000 is to be repaid by making payments of $1021 at the end of each month. If interest is 4.87% per annum compounded semi-annually, what is the term of the mortgage? State your answer in years and months (from 0 to 11 months). The term of the mortgage is year(s) and month(s)

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