6. A home was purchased for $125,000 and a mortgage was amortized over 25 years. Payments are made at the end of the month and interest is 5% compounded semi-annually.

a. What will be the size of the monthly payments? (3 marks)

b. What will be the balance of the mortgage after the first 5 years? (2 marks)

c. What amount of principal is paid on the 20th payment? (2 marks)

d. Fill in the amortization table below showing the details of the first two payments, the last two payments and totals. (8 marks)

Payment #	Payment Size	Interest Paid	Principal	Balance
0
1
2
.
Totals