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Calculate the size of the payments

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A $160,000 mortgage was amortized over 15 years by monthly repayments. The interest rate on the mortgage was fixed at 4.52% compounded semi-annually for the entire period.

a. Calculate the size of the payments.

Round up to the next 100.

b. Calculate the size of the final payment, rounding to the nearest cent.

Round to the nearest cent

Reference no: EM131034188

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