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solve for a,b,c,d 5. (6 Marks). A $300,000 mortgage is amortized over 25 years at an interest rate of 6% compounded semi-annually. a. You decide

solve for a,b,c,d image text in transcribed
5. (6 Marks). A $300,000 mortgage is amortized over 25 years at an interest rate of 6% compounded semi-annually. a. You decide to make payments weekly, calculate the weekly payment. b. For the 104th payment, how much of the payment goes to reduce the outstanding balance on the mortgage? C. How much interest is paid in the third year of the mortgage? d. What is the total interest paid over the life of the mortgage

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