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What is the size of the monthly payments

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Reference no: EM132585599

A $248 000.00 mortgage amortized by monthly payments over 35 years is renewable after five years. Interest is 8.12% compounded semi-annually.

a) What is the size of the monthly payments?

b) How much interest is paid during the first year?

c) How much of the principal is repaid during the first five-year term?

Reference no: EM132585599

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