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I have 6 Mortgage questions that need to be answered. thank you ot(s) will not be graded because you have passed the close date Question
I have 6 Mortgage questions that need to be answered. thank you
ot(s) will not be graded because you have passed the close date Question 1 of 6 Melanie purchased a house for $400,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 5.82% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 5 year period. a. Calculate the monthly payment amount $0.00 Round to the nearest cent b. Calculate the principal balance at the end of the 5 year term. $0.00 Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 5 years at 4.92% compounded semi-annually? $0.00 Round to the nearest cent Next Question SubmitStep by Step Solution
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