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it's duo today please assit me up to the nearest $100. (13 years 48 weeks) 11. You just purchased a house for $200,000. You were
it's duo today please assit me
up to the nearest $100. (13 years 48 weeks) 11. You just purchased a house for $200,000. You were able to put 10% down and finance the rest, meaning that you will have to pay a CMHC premium of 2.00%. You are planning to amortize the mortgage over 20 years with monthly payments. Interest is 3.65% compounded semi-annually for a five-year term. a) What is the size of the monthly payments for the first five years? ($1,076.40) b) How much interest will you pay over the first 3 years? ($18,925.12) c) What is the balance at the end of the first 3 years? ($163,774.73) d) What is the outstanding balance at the end of the first five years? ($149,310.95) c) Determine the size of the monthly payments if the mortgage is renewed for a four- year term at 6.75% compounded semi-annually after the first term expires. ($1,313.58) ) After 2 years into your second term you decide to increase the payment size by $200. How many payments will be made? (Balance after 2 years = 136,890.12, number of payments = 126 Payments) g) If nothing changes for the remainder of the mortgage, what is the size of the last payment? ($1,389.52) Step by Step Solution
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