4. Abdullah just purchased a new house for OMR 120,000. He was able to make a down payment equal to 25% of the value of the house; the balance was mortgaged. The rate by the bank is 10% compounded annually. The mortgage has a 20-year amortization period (this means that payments are calculated assuming it will take 20 years to pay off the loan). (a) What will be the size of the payments? (b) What will be the balance remaining on the mortgage after 5 years?

4. Abdullah just purchased a new house for OMR 120,000 . He was able to make a down payment equal to 25% of the value of the house; the balance was mortgaged. The rate by the bank is 10% compounded annually. The mortgage has a 20 -year amortization period (this means that payments are calculated assuming it will take 20 years to pay off the loan). (a) What will be the size of the payments? (b) What will be the balance remaining on the mortgage after 5 years