You have just received a heritage farm from your grandparents, which you sold for

$350,000.$ You are planning to purchase a townhouse in East Vancouver. which is

isted at $$750,000.$ You can use the proceeds of $$350,000$ from the heritage as your

lown payment and you need a $$400,000$ mortgage loan. The mortgage will be in a $25$

ear term with a $5\mathrm{.}50\%$ annual rate. If you chose to make a monthly payment schedule.

ow much will each payment be$?$ What is the total amount of interest you have paid

ver the next $25$ years?