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Javier has a mortgage for $359,416.00. The term of the mortgage is 5 years, and the amortization period is 25 years. Javier will make weekly

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Javier has a mortgage for $359,416.00. The term of the mortgage is 5 years, and the amortization period is 25 years. Javier will make weekly payments and the mortgage rate is r(12) = 4,250%. a) When the mortgage term expires Javier takes out a new mortgage for the outstanding balance still owing. The amortization period for the new mortgage is 20 years, and the term for the new mortgage is 5 years. The interest rate remains the same. What are his new weekly payments? $ b) Javier refinances his mortgage after 3 years (without penalty). The new mortgage has amortization period 22 years, and term 2 years. The amount is the outstanding balance still owing on the original mortgage, and the new interest rate is (12) = 3.000%. What are the the new weekly payments? $

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