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1 Listen The Pedersons have obtained a $789,000 mortgage with payments of $4875 required at the end of every month. They are being charged interest

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1 Listen The Pedersons have obtained a $789,000 mortgage with payments of $4875 required at the end of every month. They are being charged interest at a rate of 4.9% compounded semiannually. 1. Calculate the number of payments required to pay off this mortgage 2. Construct a partial amortization schedule, filling in all the non shaded spaces for the last two payments and the previous principal balance (no totals) Fill the table below with your answers. 3. Determine the total cost of financing this mortgage. A full solution is required for #1 and #3 respectively. Submit your work Format BIU Payment Interest Principal Principal Payment Portion Balance Number Portion

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