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Mason has a mortgage of $480,000 through the TD Canada Trust for a vacation property. The mortgage is repaid by end of month payments with

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Mason has a mortgage of $480,000 through the TD Canada Trust for a vacation property. The mortgage is repaid by end of month payments with an interest rate of 6% compounded monthly for a teim of 4 years, amortized over 20 years. At the end of the 4-year term, Mason will renew the mortgage for another 4 -year term at a new, lower interest rate of 3.4% compounded monthly. Round ALL answers to two decimal places if necessary. 1) What are the end of month payments before the renewal of the mortgage

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