Canadian mortgage interest rates are quoted annually but are compounded semi-annually. If a customer gets a mortgage at 6.5% compounded semi-annually, what is the effective annual interest rate (EAY)? Differentiate between effective annual rates and nominal rates. (6.6056)

Given a 3.99% compounded semi-annual rate, what is the monthly payment for a $300,000 mortgage with an amortization of 30 years?

What is the new payment amount if interest rates go up to 8%?