Five years ago Sanjeev and Abigail purchased a home and got a 5474 217 mortgage...
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Five years ago Sanjeev and Abigail purchased a home and got a 5474 217 mortgage with a 20-year amortization at 6.75% interest compounded semi-annually and weekly payments The term of the mortgage is now over, and they are renewing on the same amortization timeline for a four-year term at 5.75% interest compounded semi-annually and weekly payments For full marks your answer should be rounded to the nearest cent a) What is the balance remaining after the first term? Balance $ 0.00 b) How much are the new payments for the second term? Payment = $ 0.00 Five years ago Sanjeev and Abigail purchased a home and got a 5474 217 mortgage with a 20-year amortization at 6.75% interest compounded semi-annually and weekly payments The term of the mortgage is now over, and they are renewing on the same amortization timeline for a four-year term at 5.75% interest compounded semi-annually and weekly payments For full marks your answer should be rounded to the nearest cent a) What is the balance remaining after the first term? Balance $ 0.00 b) How much are the new payments for the second term? Payment = $ 0.00
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