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Consider this: An annuity with semi-annual deposits of $2000, earning an interest rate of 6% per year compounded semi-annually, over a 20 year term.

Consider this: An annuity with semi-annual deposits of $2000, earning an interest rate of 6% per year compounded semi-annually, over a 20 year term. a) How much money would you earn at the end of the 20 years? [2 marks] b) How much money would you have if you doubled your payments? [2 marks] Explain, in your own words, the effects of changing your amortization period on your mortgage. [1 mark]

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