A mortgage for $250,000 is amortized with monthly payments over 30 years. Interest is 2.5%...
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A mortgage for $250,000 is amortized with monthly payments over 30 years. Interest is 2.5% p.a. compounded semi-annually in the first five year term. The interest rate increases to 3% p.a. compounded semi-annually for the next five year term. How much of the mortgage is left to be paid after this second term?
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