Justin Case has purchased a $250 000 home by putting 20 % down and taking out a 25 year mortgage with semi monthly payments of $600 to Finance the rest. The payments will be made at the end of each period.

What was the quoted interest rate for the mortgage ( with semi annual compounding) ?

Assume that Justin Makes every payment on time, what will be the total dollar amount of interest that he will pay over the life of the mortgage?