The 30 minute-year mortgage on a 20000 house that carries a


The 30 minute-year mortgage on a $20,000 house that carries a 3% annual interest rate.

a. What is the equivalent monthly interest rate (show in percentages with two decimals)

b. What is the monthly payment on the mortgage?

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Business Economics: The 30 minute-year mortgage on a 20000 house that carries a
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