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.

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

b) Assuming 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?