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A $400,000 mortgage is to be amortized over 25 years with monthly payments at an interest rate of 5% compounded semi-annually. a. Find the size

A $400,000 mortgage is to be amortized over 25 years with monthly payments at an interest rate of 5% compounded semi-annually.

a. Find the size of the regular monthly payment (round up to the nearest cent) and the size of the final smaller payment.

b. How much interest is paid over the life of the mortgage (25 years).

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