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Payments are due at the end of each payment period

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Sam pays his $432511 mortgage over 25 years with biweekly payments while Bill pays his $432511 mortgage over 15 years with biweekly payments. How much more does Bill pay per payment assuming a rate of interest of 5.6% compounded semi-annually? Assume that payments are due at the end of each payment period.

Reference no: EM131470796

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