) You have just taken out a 25-year $350,000 mortgage to buy a new house (luckily you live in Winnipeg). Your mortgage interest rate is 3.5% per year, compounded semi-annually.

a) If you make monthly payments, what is the amount of your payment? (2 marks)

b) If you make bi-weekly payments (one payment every two weeks), what is the amount of your payment? (2 marks)

Please show all work neatly