Abigal has taken out a mortgage for $275,000. She will make monthly payments at the end of each month for 20 years. The interest rate is 4.8% compounded semi-annually. Find the monthly payment on the mortgage.

a) Show the expression you used to find the interest rate.

b) Find the monthly payment.

c) Find the total amount of interest paid over the life of the mortgage assuming the interest rate and payment remain constant.

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