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part B 3 Part A. Calculate the semi-annual mortgage payment 4 Mortgage principal 100,000 5 Points 1.50% 6 Quoted interest 10% 7 Mortgate term (years)

part B

3 Part A. Calculate the semi-annual mortgage payment 4 Mortgage principal 100,000 5 "Points" 1.50% 6 Quoted interest 10% 7 Mortgate term (years) 20 8 semi-annual payment ($11,745.96) 9 10 Part B. Compute the EAIR (f you need intermediate steps to calculate EAIR, use the space in this worksheet to show all your work 11 semi-annual rate 12 Effective annual interest rate 13

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