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An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4% compounded semi-annually. 1.What is the size of the

An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4% compounded semi-annually.

1.What is the size of the monthly payment to the nearest dollars?

2.How much interest paid in the first payment?

3.What is the outstanding balance after the first payment?

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