3. Kevin planned to buy a house but could afford to pay only $6,000 at the end of every 6 months for a mortgage with an interest rate of 5.70% compounded semi-annually for 20 years. He paid $21,750 as a down payment.

a. What was the maximum amount he could afford to pay for a house?

b. What was his total investment through the mortgage period (not taking the time-value of money into account)?

c. What was the total amount of interest paid through the mortgage period?