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You bought a house worth $318,000. You paid 25% of the purchase price in cash and arranged a twenty-five-year mortgage with a rate of 5.5%

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You bought a house worth $318,000. You paid 25% of the purchase price in cash and arranged a twenty-five-year mortgage with a rate of 5.5% compounded semi-annually for the remaining balance. The mortgage has an amortization period of 25 years. How much interest will you pay in the first 5 years (assuming that the first payment is made at the end of the first month)? In the first 5 years, you will pay sin interest. (Round the final answer to two decimal places as needed. Keep all decimal places as you work through the problem.)

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