Mathematics, 24.07.2020 20:01 jfoster70

An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4% compounded semi-annually. What is the size of the monthly payment to the nearest dollars?
How much interest paid in the first payment?
What is the outstanding balance after the first payment?

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An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4%...

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An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4% compounded semi-annually. What is the size of the monthly payment to the nearest dollars? How much interest paid in the first payment? What is the outstanding balance after the first payment?

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Another question on Mathematics

An $600,000 Mortgage is amortized by monthly payments over 25 years. The interest rate charged is 4% compounded semi-annually. What is the size of the monthly payment to the nearest dollars?
How much interest paid in the first payment?
What is the outstanding balance after the first payment?