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1. Determine the monthly payment for each mortgage and the total interest paid. The interest rate is compounded semi-annually. Show your work. Interest rate Principal

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1. Determine the monthly payment for each mortgage and the total interest paid. The interest rate is compounded semi-annually. Show your work. Interest rate Principal borrowed $150 000 $250 000 Length of mortgage 4% 3.5% 20 years 25 years N= N= 1% 1%= PV= PV= PMT= PMT= FV= FV= P/Y= P/Y= C/Y= C/Y- PMT: END BEGIN PMT: END BEGIN Monthly payment: Monthly payment: Total interest paid: Total interest paid

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