A $420,000 mortgage at 4.75% compounded semi-annually was settled with monthly payments of $2435.73 at the end

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A $420,000 mortgage at 4.75% compounded semi-annually was settled with monthly payments of $2435.73 at the end of every month

a)Determine the number of payments

payments

b) Detail the first two payments, the 100th payment, the last two payments and the totals in the chart

PMT #Payment Size. Interest Paid Principal Paid. Balance after PMT

100

Posted Date: Jun 19, 2024 08:30 AM

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A $420,000 mortgage at 4.75% compounded semi-annually was settled with monthly payments of $2435.73 at the end

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