What is the monthly payment
Problem
CIBC offers a level payment mortgage with 15 years to maturity, 5.5% interest rate. $150000 loan, monthly payment, and semi-annual compounding. What is the monthly payment?
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CIBC offers a level payment mortgage with 15 years to maturity, 5.5% interest rate. $150000 loan, monthly payment, and semi-annual. What is the monthly payment?
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The exchange rate at the beginning of the year was SF1.0000/$. Calculate the real exchange rate at the beginning of the year.
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