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Problem #1: determine the amount of total interest...

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Problem #1: determine the amount of total interest expense on a 25-year mortgage of $52,000 with an interest rate of 14 percent assuming monthly compounding after the last payment (beginning of the month payment) A. 131,538.65 B. 133,621.25 C.135,786.82, D. 137,865.53, E. None of the above Problem #2: Obtain the total interest paid during the last ten years of a $52,000 mortgage when n = 25 and k =14% (end of month payments) A. 34,795.83 B. 34,797.83 C. 34,799.83 D. 34,781.83 E. None of the above

 

Paper#13730 | Written in 18-Jul-2015

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