I mortgage is negotiated for a house. The mortgage rate is 5.4%. The homeowner has contracted with he bank for a five year term, and the mortgage is amortized over 20 years. The payments are every two reeks. a. What is the applicable interest rate? b. If $533,121.806 remains to be repaid when the mortgage has to be renegotiated, how much was originally borrowed? c. Explain in simple terms and in complete sentences to a friend why the number of payments times the amount of each payment will be greater than the total amount borrowed