You arrange a 3-year mortgage with a 4.50% interest rate compounded semi-annually. The mortgage has an amortization period of 20 years. What is the size of your monthly mortgage payment (assuming you begin payments at the end of this month if you bought the house for $565,000 and intend to mortgage the entire amount)?

What are your payments if you make a down payment of $100,000?

If you know, today, that you will be able to make a lump-sum payment of $20,000 at the end of the first 5 years and you want to adjust your payments accordingly, how would you integrate that into your calculations?