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show calculator approach Problem: Mortgage Loan with Blended, Equal Monthly Payments at Rose Company Rose Company purchased a piece of land from the City of

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Problem: Mortgage Loan with Blended, Equal Monthly Payments at Rose Company Rose Company purchased a piece of land from the City of Vernon on December 1, 2018 for CAD 750,000. The Bank of Montreal agreed to extend the mortgage, but required a 40.00% down payment. The mortgage had an amortization period of 15 years and a term of 5 years. The mortgage interest rate was 9.00%, compounded semi-annually. REQUIRED: 1. Calculate the monthly payment. 2. Prepare an amortization table for the first two payments

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