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Anne purchased a condo for $285,000. She made a 20% down payment and received a mortgage for the rest of the amount at 3.75% compounded

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Anne purchased a condo for $285,000. She made a 20% down payment and received a mortgage for the rest of the amount at 3.75% compounded semi-annually with monthly payments and a 25 year amortization period. Calculate the size of the new monthly payments if the mortgage is renewed after 5 years at 3.25% compounded semi-annually. PMT Setting N I/Y P/Y C/Y PV PMT EV

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