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A condo costs $300 000 and you have a downpayment of $90 000, so you will be carrying a mortgage of $210 000. If you
A condo costs $300 000 and you have a downpayment of $90 000, so you will be carrying a mortgage of $210 000. If you take on a 5-year mortgage with a 25 year amortization period rate 4.5% (compounded semiannually) with monthly payments.
a) Your monthly payment
b) The total interest and total principal paid over the first 5 years.
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