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Wing Sze has a mortgage for $671,070.00. The term of the mortgage is 4 years, and the amortization period is 20 years. Wing Sze will
Wing Sze has a mortgage for $671,070.00. The term of the mortgage is 4 years, and the amortization period is 20 years. Wing Sze will make bi- weekly payments and the mortgage rate is r(26) = 1.500%. a) How much are the bi-weekly payments? S b) What is the outstanding balance at the end of the term of the mortgage? $ c) How much does Wing Sze still owe on the mortgage if she sells the house after 2 years? $
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