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(16 marks) Sebhat takes out a 5 year mortgage for $667,660.90. The amortization period is...

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Accounting

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(16 marks) Sebhat takes out a 5 year mortgage for $667,660.90. The amortization period is 10 years, the interest rate is r(12) = 1.725%, and he will make weekly payments. a) What is the effective weekly interest rate? b) How much are his weekly payments? C) How much does he still owe at the end of the mortgage term? d) When Sebhat renews his mortgage at the end of the term, with the same term and the same amortization period, his weekly payments don't change! What is the nominal rate (compounded monthly) on his new mortgage

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