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A $300,000 mortgage is amortized over 25 years at an interest rate of 6% compounded semiannually. Payments are made weekly. a. (3 Marks) Find the
A $300,000 mortgage is amortized over 25 years at an interest rate of 6% compounded semiannually. Payments are made weekly. a. (3 Marks) Find the size of the regular weekly payment (round up to the nearest cent) and the size of the final smaller payment. b. (1 Mark) For the 104^("th ") payment, how much of the payment goes to reduce the outstanding balance on the mortgage? Solve b part using financial calculator
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