Quiz 1: Winter 2004

If i get new mortgage, I will save $30.42 a month in mortgage payments (Part A – Part C), for the next 60 months (i.e., 5 years – i am only planning to hold this property mortgage for 5 years!). If I pay off the new mortgage after 5 more years, I would have to repay 462,906.62 (part D above). ................
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