1.A debt of $17,000 is being repaid by 17 equal semiannualpayments, with the first payment to be made six months from now. Interest is at the rate of 7% compounded semiannually.However, after twoyears, the interest rate increases to 8% compounded semiannually. If the debt must be paid off on the original date agreedupon, find the new semiannual payment.

The new semiannual payment is $=

.

(Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places asneeded.)

2.A $145,900 mortgage for 30 years for a new home is obtained at the rate of 5.3% compounded monthly. Find(a) the monthlypayment, (b) the interest in the first payment, (c) the principal repaid in the firstpayment, and(d) the finance charge.

(a) The monthly payment on the mortgage is $=

(B)=

(C)=

(D)=

.

(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places asneeded.)