k borrows $300,000 on a mortgage loan to be repaid on an equal monthly payment over 15-year period. Each payment is made at the end of each month. The bank (lender) charges 12.30% compounded semi-annually (in Canada this is a requirement). The mortgage term is for 5 years. Find the amount of interest paid after 23 months? please answer fast i give

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Mark borrows $300,000 on a mortgage loan to be repaid on an equal monthly payment over 15-year period. Each payment is made at the end of each month. The bank (lender) charges 12.30% compounded semi-annually (in Canada this is a requirement). The mortgage term is for 5 years.

Find the amount of interest paid after 23 months?

please answer fast i give upvote

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