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1. A $50,000 mortgage loan is written with a 20-year amortization period, a three-year term, and an interest rate of 4.5% compounded semiannually. Payments are

1. A $50,000 mortgage loan is written with a 20-year amortization period, a three-year term, and an interest rate of 4.5% compounded semiannually. Payments are made monthly. Calculate: a) the balance of the end of the three-year term. b) the size of the payments upon renewal for a five-year term at 4% compounded semiannually. The Smiths are the five-year term $100.000 mortgage loan with a 25-year

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