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16) Tyrell bought a new property gor $229 900 with 10% down payment .The mortage is 5.25% per year,amortized over 20 years .by law ,Mortages
16) Tyrell bought a new property gor $229 900 with 10% down payment .The mortage is 5.25% per year,amortized over 20 years .by law ,Mortages are compounded semi-annually.
a) Find the down payment and mortage amount.
b)determine Tyrell's monthly payment .use TVM advanced calculator .
C) Assume the interest rate remains constant.Use the FCAC mortage calculator to find the total payment ,the total principal payment ,and the total interest payment Tyrell for 5 -years mortage term?
d) Find the total payment and the total interest payment Tyrell over the life of the mortage if the interest rate remains constant . Use FCAC mortage calculator .
E) Calculate the approximate value of Sarah's house after 10 years if it appreciates at a rate of 5% per year .
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