An advertisement reads: "Sleek & Sexy 2 Bedroom at Wall Centre $679 000.00. Renovated 1,160 square feet, 2-bedroom and 2-bathroom corner suite with treed outlook at prestigious Wall Centre. Spacious custom kitchen with stainless steel appliances, and hard-wood floors throughout. Floor to ceiling windows, balcony, in-suite laundry, air-conditioning, 1 parking & storage. Resort-style living with doorman, access to Wall Centre Hotel fitness centre and room service! Rentals and pets ok. 601-1050 Burrard Street, Vancouver" (Vancouver Sun, Friday, July 5, 2013, p. D10).
(a) Suppose you are able to secure a mortgage for a five-year initial term at 3.34 percent compounded semi-annually and have $70 000 as a down-payment.
What would the required bi-weekly (assume 26 payments per year) payment on this mortgage be if you amortized it over 25-years?
(b) Find the total amount of interest that you would pay over the entire 25-year amortization.
(c) Using the table below, construct an amortization table for the payment numbers based on your calculations in part (i).

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Remaining Balance Payment Number Payment Amount Principal Paid Interest Paid 121 122 123