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An apartment will cost $400,000 and your parents have provided you the down payment money of $100,000. And the bank is quoting 2.50% quoted rate

An apartment will cost $400,000 and your parents have provided you the down payment money of $100,000. And the bank is quoting 2.50% quoted rate based on a 25-year amortization, which will be compounded semi-annually.

What would be the amount of monthly payments on the mortgage?

What would be the principal outstanding after five years?

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