3.When the littles purchased a home, they borrowed $190000 as a mortgage to be amortized by making monthly payments for 25 years. Interest is 4.89% compounded semi annually for a 3 year term.

a. compute the size of monthly payment [2 marks]

b. determine the balance at the end of the 3 year term [3 marks]

c. Round the balance to the next higher $50