Annette commits to a mortgage with an interest rate of 4% compounded monthly for the first 16 years and 3% compounded quarterly for the next 18 years. She pays $11639 at the beginning of every semi-annual period. How much was the original listing price on the house she purchased?

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Loans

A loan is a term that we are all familiar with. The processing of loans is one of the most important functions of a bank. It keeps our economy stable and facilitates the implementation of monetary policies. Let's take a look at the different forms of loans and get some answers to some common questions.