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Tess purchased a house for $475,000, she made a down payment of 25.00% of the value of the house and recieved a mortgage for the

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Tess purchased a house for $475,000, she made a down payment of 25.00% of the value of the house and recieved a mortgage for the rest of the amount at 6.42% compounded semi-anually amortized over 25 years. The interest rate was fixed for a 6 year period. A) calculate the monthly payment amount. (Round to the nearest cent) B) calculate the principal balance at the end of the 6 year term. (Round to the nearest cent) C) calculate the monthly payment amount if the mortgage was renewed for another 6 years at 5.72% compounded semi-anually. (Round to the nearest cent)

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