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Anika purchased a house for $425,000. She made a down payment of 20.00% of the value of the house and received a mortgage for the rest of the amount at 3.82% compounded semi-annually amortized over 20 years. The interest rate was fixed for a 4 year period. a. Calculate the monthly payment amount. Round to the nearest cent b. Calculate the principal balance at the end of the 4 year term. Round to the nearest cent c. Calculate the monthly payment amount if the mortgage was renewed for another 4 years at 5.72% compounded semi-annually? SUBMIT

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