(with the help of financial calculator)

A $500,000 mortgage is amortized over 25 years with monthly payments at an interest rate of 4% compounded semi-annually.

a. (3 Marks) Find the size of the regular monthly payment (round up to the nearest cent) and the size of the final smaller payment.

b. (1 Mark) What is the total interest paid over the 25-year life of the mortgage?

c. (1 Mark) How much interest is paid in the first five years of the mortgage?

d. (3 Marks) If the mortgage was amortized over 20 years with monthly payments instead of 25 years with monthly payments, how much interest is paid over the life of the mortgage?

e. (3 Marks) If the mortgage was amortized over 25 years with accelerated weekly payments instead of 25 years with monthly payments (where the weekly payment is calculated by taking the payment calculated in (a) above and dividing it by 4), how much interest is paid over