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1) A contractor's price for a new house was $95,300.00. Vancouver Inc., the buyers of the house, paid $21,000.00 down and financed the balance by
1) A contractor's price for a new house was $95,300.00. Vancouver Inc., the buyers of the house, paid $21,000.00 down and financed the balance by making equal payments at the end of every six months for 12 years. Interest is 5% compounded semi-annually. a) What is the size of the semi-annual payment? b) How much will Vancouver Inc. owe after 5 years? c) What is the total cost of the building for Vancouver Inc.? What is the total payment of Vancouver Inc.? d) What is the total interest included in the payments
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