Question 5 of 5 The balance on a mortgage was $40,200 and an interest rate...
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Question 5 of 5 The balance on a mortgage was $40,200 and an interest rate of 5.50% compounded semi-annually was charged for the remaining 5-year term. Monthly payments were made to settle the mortgage. a. Calculate the size of the monthly payments. Question 5 of 5 b. If the monthly payments were set at $867, how long would it take to pay off the mortgage? years (x months (X Express the answer in years and months, rounded to the next payment period w c. If the monthly payments were set at $867, calculate the size of the final payment
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