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What is the total mortgage amount

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Reference no: EM132965923

Problem 1: Abraham just took out a $495,000 mortgage at 2.9 percent compounded semi-annually. He plans to pay off the mortgage in 25 years. How much is his monthly payment?

Problem 2: David and Victoria are looking to buy a $1.2 million property in Whistler. They have $235,000 down payment and would like to add mortgage loan insurance premium to their mortgage. What is their total mortgage amount?

Reference no: EM132965923

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