Interest rate on your mortgage

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Reference no: EM13971480

Suppose you are planning to purchase a house for $265,500. You have a sufficient savings to make a down paymant of 12.5%, and are interested in making weekly mortgage payments. The bank has offered you a rate at 8.25% for a 20-year mortage.

What is the weekly interest rate on your mortgage?

Reference no: EM13971480

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