You have decided to become a homeowner with the purchase of a condominium in a newly redeveloped part of town. The condo costs $300,000 and you have a down payment of $90,000, so you will be carrying a mortgage of $210,000. If you take on a 5 -year mortgage at a rate of 4.5% (compounded semiannually), with monthly payments, what would be your monthly payments if your mortgage amortization period was 20 years? 15 years? For 20 years: $ For 15 years: 5