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David took out a $330,000 mortgage at 2.80% compounded semi-annually. She will be making payments of $1,620 per month. a. How long will it take
David took out a $330,000 mortgage at 2.80% compounded semi-annually. She will be making payments of $1,620 per month.
a. How long will it take David to pay off his mortgage?
Round up to the nearest month
months months
b. How much interest will she pay in the month 38?
Round to the nearest cent
c. How much principal will she pay in the year 4?
Round to the nearest cent
d. At the end of 5 years, what is the balance owing on Davids mortgage?
Round to the nearest cent
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