Calculate ocean monthly payment

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Ocean Spray has applied for a mortgage of $206,000. Interest is computed at 4.5 percent compounded semiannually. The mortgage will be paid off over 25 years. (Use a Financial calculator to arrive at the answers.

Do not round intermediate calculations and round the final answers to 2 decimal places.)

a. Calculate Ocean's monthly payment.

Monthly payment $

b. Calculate Ocean's weekly payment.

Weekly payment $

c. Calculate Ocean's biweekly (every 2nd week) payment.

Biweekly payment $

Reference no: EM133055802

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