A contractors price for a new building was $116,000. You decide to buy the building, making a payment of $23,200 down and financing the balance by making equal payments at the end of every 6 months for for 6 years. Interest is 5.4% compounded semi-annually.
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a	What is the size of the semi-annual payment that is required to pay of the mortgage in 6 years
b	Create an amortization table		4
#	Payment amt	interest paid	Principal paid	Balance
c	For the first payment period, how much interest is paid, how much of the principal is repaid, and what is the loan balance?
	Interest		1.5
	Repaid Principle
	Balance
d	For the second payment period, how much interest is paid, how much of the principal is repaid, and what is the loan balance? (3 marks)		1.5
	Interest
	Repaid Principle
	Balance
e	What is the total interest included in your payments?
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f	What is the total cost of the building
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