Solve both A and B A $320,000 house in Hamilton was purchased with a...
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Solve both A and B
A $320,000 house in Hamilton was purchased with a down payment of 20.00% of its value and a 25 year mortgage was taken for the balance. The negotiated fixed interest rate was 4.50% compounded semi-annually for a five-year term, with repayments made at the end of every month. a. Calculate the size of the monthly payments. $0.00 Round to the nearest cent b. Complete the partial mortgage schedule for the five-year term, rounding the answers to the nearest cent. b. Complete the partial mortgage schedule for the five-year term, rounding the answers to the nearest cent. Payment Number Payment Interest Portion Principal Portion Principal Balance 0 $256,000.00 $0.00 $0.00 $0.00 $0.00 1 $0.00 $0.00 $0.00 $0.00 2 0 $0.00 0 $0.00 $0.00 $0.00 $0.00 0 $0.00 $0.00 $0.00 $0.00
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