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QUESTION
You take out a $175000 mortgage with a 25 year amortization period, a 5 year term and a 6% posted mortgage interest rate.
hello, my question is... You take out a $175000 mortgage with a 25 year amortization period, a 5 year term and a 6% posted mortgage interest rate.
The solution says there is a 6 month compounding period. Where do they get that from?
