Finch wishes to sell a closed mortgage contract just after receiving the 29thpayment. The original loan was for $60,000 at 11% compounded semiannually for a five-year term. Monthly payments are being made on a 25-year amortization schedule. What price can she reasonably expect to receive if the current semiannually compounded interest rate on two and three-year term mortgages is:

Round to 2 decimals (eg 1255.545 --> 125.55). Do NOT put $

a) 10% $

b) 12% $