The context is a home mortgage payments are monthly the, Financial Accounting

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The context is a home mortgage payments are monthly the

The context is a home mortgage. Payments are monthly, the first to be made 1 month hence. The loan agreement recites a 7% mortgage payable over 20 years.

What would be entered for i if the payment were not monthly

Quarterly

Semiannually

Daily

(on the original facts—payment is monthly)

What if the payment was made

Quarterly

Semiannually

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