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Question 3 of 4 A mortgage for a condominium had a principal balance of $47,800 that had to be amortized over the remaining period of
Question 3 of 4 A mortgage for a condominium had a principal balance of $47,800 that had to be amortized over the remaining period of 8 years. The interest rate was fixed at 3.22% compounded semi-annually and payments were made monthly. a. Calculate the size of the payments. SO Round up to the next whole number b. If the monthly payments were set at $665, by how much would the time period of the mortgage shorten? o year(s) o months c. If the monthly payments were set at $665, calculate the size of the final payment. Round to the nearest cent Next
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