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Diego is purchasing property worth $1,480,000 with a down payment of $473,600 and semi-annual payments at the end of every six months for 25 years.

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Diego is purchasing property worth $1,480,000 with a down payment of $473,600 and semi-annual payments at the end of every six months for 25 years. If interest is 2.19% compounded monthly: (a) What is the amount of each payment? Round the answer to the nearest cent. PAY CY N- VY PV = $ PMT - $ FV5 (b) What is the cost of financing? Round the answer to the nearest cent. Cost of financing (enter a positive value)

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