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James purchased a house for ( $ 325,000 ). He made a down payment of 10.00 of the value of the house and received a
James purchased a house for \\( \\$ 325,000 \\). He made a down payment of \10.00 of the value of the house and received a mortgage for the rest of the amount at \4.32 compounded semi-annually amortized over 20 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at \3.92 compounded semi-annually? Round to the nearest cent
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