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Old 11-30-2011, 11:13 PM
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Default What is the correct ranking of the house and
Mortgage Deals? House and Mortgage A: a fifteen year mortgage with monthly payments and an annual interest rate of 14% compounded monthly.House and Mortgage B: a twenty year mortgage with monthly payments and an annual interest rate of 12% compounded monthlyHouse and Mortgage C: a fourteen year mortgage with monthly payments an an annual interest rate of 13.48827% compounded quarterly.In an effort to impress the ladies jack wanted to buy the most expensive house he could afford with his $5400 a month. He decided to rank the mortgages in order of least expensive to most expensive.
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