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A $160,000 mortgage was amortized over 20 years by monthly repayments. The interest rate on the mortgage was fixed at 5.00% compounded semi-annually for the

A $160,000 mortgage was amortized over 20 years by monthly repayments. The interest rate on the mortgage was fixed at 5.00% compounded semi-annually for the entire period.

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

Round up to the next 100

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

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