4) To avoid paying any "Unnecessary CMHC Insurance fee" a young couple buys a house for $400,000 and puts down $100,000 (25%) - (I.E., the mortgage is for $300,000 and amortization period is standard 25 years). They lock in a rate of 4% compounded semi-annually for five years and make the monthly payments required. After five years (60 payments), they realize mortgage rates jump to 6% compounded semi-annually. (14.4 Residential Mortgages a. What is the size of the equal payments for the first five years? b. How much is still owing (principle outstanding) after 5 years (what is n?)? c. Find the size of the new equal payments, based on the balance owing after 5 years of payments & 6% interest compounded semi-annually OVER the remaining 20 years