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A $120,000 mortgage was amortized over 15 years by monthly repayments. The interest rate on the mortgage was fixed at 4.60% compounded semi-annually for the

A $120,000 mortgage was amortized over 15 years by monthly repayments. The interest rate on the mortgage was fixed at 4.60% compounded semi-annually for the entire period.

a. Calculate the size of the payments rounded up to the next $100.

b. Using the payment from part a., calculate the size of the final payment.

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