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MATHEMATICS OF BUSINESS AND FINANCE Ariel planned to buy a house but could afford to pay only $9,500 at the end of every 6 months

MATHEMATICS OF BUSINESS AND FINANCE

Ariel planned to buy a house but could afford to pay only $9,500 at the end of every 6 months for a mortgage with an interest rate of 4.10% compounded semi-annually for 20 years. She paid $29,500 as a down payment.

a. What was the maximum amount she could afford to pay for a house?

b. What was her total investment through the mortgage period (not taking the time-value of money into account)?

c. What was the total amount of interest paid through the mortgage period?

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