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The morlgige en your house in Wrnipeg is five years old, it required monthily poyments of $1,450, had an original term of 30 years, and

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The morlgige en your house in Wrnipeg is five years old, it required monthily poyments of $1,450, had an original term of 30 years, and had an interest rate of 8% (APR with semi-annaal compoundingli in the intervering five years, interest rates have falen, housing prices in the United Stries have falen, and you have decided to rotire to Florita. You have decided io sell your house in Wrnipeg and use your equiky for the down payment on a condo in Florida. You will roll over the oustanding balance of your old morigage into a new moriedge in Florida. The new mortgage has a steps less than six decimal places.) a. What monthly reparyments will be required with the new loan? b. If you stil want to poy oul the mortgage in 25 years, what mort tly poyment should you make on your new mortgoge? c. Suppose you are witing to continue making monttiy payments of \$1,460. How long will it take you to pay of the new morigage? d. Suppose you aen wiling to contrus making moetty payments of 51,450 and want to pay off the morigage in 25 years. How much additional cash oan you borrow today as part of the teed financing

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