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Question I: A $500,000 mortgage loan is written with a ZS'year amonizatxon owed. a fm ; ' _ and an interest rate of 2.1%. Payments

Question I: A $500,000 mortgage loan is written with a ZS'year amonizatxon owed. a fm ; ' _ and an interest rate of 2.1%. Payments are made monthly. What will be the balance at the em: a! in: ' A 1: year term? What will be the size of the payments upon renewal for a thrcmar term at 4.5%? l" [2+2 = 4 Marks] ,\\ |

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