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Question 7 of 7 A mortgage for a condominium had a principal balance of $43,700 that had to be amortized over the remaining period of
Question 7 of 7 A mortgage for a condominium had a principal balance of $43,700 that had to be amortized over the remaining period of 5 years. The interest rate was fixed at 3.62% compounded semi-annually and payments were made monthly. Question 7 of 7 a. Calculate the size of the payments, rounded up to the next whole number. O $797 O $1,200 w O $785 0 $810 Question 7 of 7 b. If the monthly payments were set at $897, by how much would the time period of the mortgage shorten? O years and 7 months 0 1 years and 8 months O 3 years and 6 months O 4 years and 8 months Question 7 of 7 c. If the monthly payments were set at $897, calculate the size of the final payment. O $1,557.58 O -$235.15 h O $662.55 $35,296.96 k
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