You are the current owner of a house which you bought yesterday for 500k while having 100k of your..

You are the current owner of a house which you bought yesterday for 500k while having 100k of your own equity to put down. You have a 25 years mortgage payable monthly and which costs you $2024 a month. What is the duration of your mortgage?

A: 0.3

B: 3.6

C: 11.19

D: 28.79

 

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