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Exactly five years ago, Wayne made a lump-sum payment of $255,000 (in addition to the regular payment), and the interest rate was also changed to

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Exactly five years ago, Wayne made a lump-sum payment of $255,000 (in addition to the regular payment), and the interest rate was also changed to 3.95% compounded semi-annually ii) Calculate the amount being refinanced. Calculate the monthly payment for the second 5 year period. ROUND UP TO THE NEXT DOLLAR How much total interest did Wayne pay in the past two years? iii)

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