15. Suppose you buy a house and your equity and mortgage at the start are $25 000 and $299 000 respectively. Your amortization period at the start of the mortgage loan is 28 years. Your first term is for three years at prime plus 4.3% compounded quarterly. Your second term is for two years at prime plus 5.1% compounded quarterly. During the first term your mortgage payments are semi-monthly, and during the second term you switch to monthly mortgage payments. a. Fill in the information possible for the first term. N= 1% = PV = PMT= FV = PNY C/Y = b. During term one, how much are your regular payments? Answer: C. What is your balance after the first term is finished? Answer: d. What would the N, PV, and FV values be for the second term? N= PV = 15. Suppose you buy a house and your equity and mortgage at the start are $25 000 and $299 000 respectively. Your amortization period at the start of the mortgage loan is 28 years. Your first term is for three years at prime plus 4.3% compounded quarterly. Your second term is for two years at prime plus 5.1% compounded quarterly. During the first term your mortgage payments are semi-monthly, and during the second term you switch to monthly mortgage payments. a. Fill in the information possible for the first term. N= 1% = PV = PMT= FV = PNY C/Y = b. During term one, how much are your regular payments? Answer: C. What is your balance after the first term is finished? Answer: d. What would the N, PV, and FV values be for the second term? N= PV =