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Tracey is buying a condo and will have a mortgage of $180 000 which she plans to...
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Tracey is buying a condo and will have a mortgage of $180 000 which she plans to pay off in 25 years. The interest rate is 5 percent compounded semi-annually. Her payments would be $1046 at the end of every month. She has heard she can reduce the time it would take to pay off her mortgage if she pays $523 every two weeks instead. How many years it would take her to pay off her mortgage if she chooses the second option.
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