Question 1 of 14 A mortgage for a condominium had a principal balance of $49,600 that had to be amortized over the remaining period of 6 years. The interest rate was fixed at 3.62% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments. Round up to the next whole number b. If the monthly payments were set at $917, by how much would the time period of the mortgage shorten? year(s) months