not using a financial calculator by hand alled to 9....
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not using a financial calculator by hand
alled to 9. A couple requires a $428,000 mortgage to buy a new house. (a) (3 points) Calculate the couple's monthly mortgage payment at ja = 5.25% for 30 years. (b) (4 points) They decide to go with an "accelerated weekly plan where they pay only a quarter of the monthly payment at the end of each week. How much sooner will the mortgage be paid off? (c) (2 points) How much is their final drop payment under the accelerated offer? (d) (2 points) How much interest do they save using the weekly plan as opposed to the monthly plan? alled to 9. A couple requires a $428,000 mortgage to buy a new house. (a) (3 points) Calculate the couple's monthly mortgage payment at ja = 5.25% for 30 years. (b) (4 points) They decide to go with an "accelerated weekly plan where they pay only a quarter of the monthly payment at the end of each week. How much sooner will the mortgage be paid off? (c) (2 points) How much is their final drop payment under the accelerated offer? (d) (2 points) How much interest do they save using the weekly plan as opposed to the monthly plan
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