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Suppose, a homeowner borrows $100,000 on a mortgage loan, and the loan is to be repaid with equal monthly payments over a 25-year period. The

Suppose, a homeowner borrows $100,000 on a mortgage loan, and the loan is to be repaid with equal monthly payments over a 25-year period. The lender charges 6%, compounded semi-annually. The mortgage term is 5 years fixed. What is interest payment based on the 5-year fixed rate?
Question 5 options:
$91,950
$15,971
$98,940
$91,943

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