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24-05-2023
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You bought a ski chalet at Whistler for $2,700,000. You borrow the full amount over a 30-year term. The bank quotes you a nominal interest rate (APR) of 6%. You select bi-weekly payments (26 payments per year). What are the bi-weekly mortgage payments? Interest is compounded semi-annually and payments begin at the end of the first period. (State the closest answer.)
Question 8 options:
$7300
$7350
$7400
$7450

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