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Jane wants to buy a property with a first mortgage of $626,000 at 5% compounded semi-annually, not in advance, and a second mortgage of $130,000 at 6.5% interest compounded semi-annually, not in

Jane wants to buy a property with a first mortgage of $626,000 at 5% compounded semi-annually, not in advance, and a second mortgage of $130,000 at 6.5% interest compounded semi-annually, not in advance. What is the average mortgage rate for the two mortgages (rounded to one decimal place)? a) 0.096 b) 0.157 c) 0.059 d) 0.053 Correct Answer: D

Apr 12 2021 View more View Less

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