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Question: factors that affect the length of time it take to...

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Complete the following assignment and submit your work to the dropbox. your fic, ensure your name appears on the top of every page of your document and that all calculations have been double checked The cost to purchase a new condominium is $145000. The bank insists on a minimum down payment of $5000 and will grant you a mortgage for the remaining amount. The bank offers an interest rate of 6.1%a compounded semi-annually and an amortization of 25 years. Fill in the chart below with the details for each mortgage and then calculate the difference in interest paid between weekly payments and there a significant difference? Payment PY Frequency Number of Number of The Amount PMT Total Total payments payments amount of Paid Back Paid per yearin total each rincipal + over 25 payment Interest years Weekly Bi-weekly

factors that affect the length of time it take to pay off mortgage

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