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A $40,000 mortgage taken out on June 1 is to be repaid by monthly payments...

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A $40,000 mortgage taken out on June 1 is to be repaid by monthly payments rounded up to the nearest $10. The payments are due on the first day of each month starting July 1. The amortization period is 8 years and interest is 5.9% compounded semi-annually for a six-month term. Construct an amortization schedule for the six-month term. What is the monthly payment rounded up to the nearest $10?
Payment= $__
A $40,000 mortgage taken out on June 1 is to be repaid by monthly payments rounded up to the nearest 10. The payments are due on the first day of each month starting July 1. The amortization periods 8 years and interest is 5.9% compounded semi-annually for a six-month term. Construct an amortization schedule for the six month form What is the monthly payment rounded up to the near $107 Payments Complete the amoration schedule. (Round to the nearest cents needed.) Payment Number Amount Paid Interest Paid June 1 Principal Repaid Outstanding Principal Balance $40,000 July 1 Aug 1 Sept Oct 1 Nov 1 Dec 1

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