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Five years ago, Asia purchased her $325,000 home in Edmonton with a 25-year amortization. her first five-year term, she made monthly payntents and was charged
Five years ago, Asia purchased her $325,000 home in Edmonton with a 25-year amortization. her first five-year term, she made monthly payntents and was charged 4.86% compounded semi- annually. She will renew the mortgage on the same amortization timeline for another five-year term at 5.48% compounded semi- annually with monthly payments. 1. What is her monthly payment in the first five-year term? 2. What is the balance remaining after the first term? 3. What is the new mortgage payment amount for the second term
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