How to calculate by formula

friends are considering the purchase of their first home and they have come with some financial questions. The house under consideration is to you mocated in Burnaby and the market price of the home is $650,000. They have shopped for financing and have found that the local credit union is willing to finance 70% of the home's value with a mortgage that has a five year term and a 25-year amortization period. The mortgage carries a stated (or nominal annual rate of 6.75% and is compounde semi-annually. Payments are to be made weekly P/Y 52 EEKLY PAYMENTS) SEMEANNUALLY) C/Y 2 (INT COMPOUNDS TWICE A YEAR, IY 6.75 PER ANNUM, NOMINAL, APR INT RATE OVER 25 YEA N 25 YRS X 52 WEEKS 1300 WEEKLY PAYMENTS PAY OF PAYMENTS PER YEAR CIY OF COMPOUNDING PERIODS PER YEAR PV OF MORTGAGE AMOUNT OF MORTGAGE 650.000 x .7 000 Required: (a) what is the effective annual rate (EAR) of this (2 will have (b) What is the amount of the weekly payments that your friends to make (4 marks of this (c) How much interest will your friends pay during the 2nd year oa. n? (2 marks) five-year term of What will be the balance outstanding at the end of the this loan? (2 marks)