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2 points Save Answer You have purchased a home for $505000 by paying a down payment of 16% and then refinancing the remainder. You have
2 points Save Answer You have purchased a home for $505000 by paying a down payment of 16% and then refinancing the remainder. You have chosen a 4 year rate of 5.18% and plan to amortize the mortgage over a 35 year period. You are planning to make monthly payments and the interest is compounded semi-annually. a) Determine the size of the monthly payments. monthly payments = $ b) Determine the outstanding balance at the end of the 4 year term outstanding balance = $
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