You have jubt sold your house for $1,100,000 in cosh. Your mortgage was originally a...
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You have jubt sold your house for $1,100,000 in cosh. Your mortgage was originally a 30 -year mortgago with monthly payments and an initial balance of $750.000. The motpege is currenty asax 18.5 years old, and you have just made a payment. If the interest rate on the mortgage is 6.25% (APR with semi-annual compounding), how much eash wil you have from the sale cose you poy the mortgage? (Note: Be caretur not to round ary intermediate stepo less than sa decimal places.) a. What is the discount rate for the mortgage? The discount rate for the mortgage is \%. (Round to four decimal places.)
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