If a mortgage has a principal of $ 200 000, an annual interest rate of 8 % (with semi-annual compounding) and an amortization period of 25 years, each monthly payment should be equal to:

a) $1 052.04

b) 16 000.00

c) $8 348.35

d) $1 526.43

When appraising a house with unique features, the direct market comparison (DMC) approach is more practical than the cost approach.

a) true

b) false