A man buys a house for $330,000. He makes a $160,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 5 years. The interest rate on the debt is 12%, compounded semiannually.

(a) Find the size of each payment.
$

(b) Find the total amount paid for the purchase.
$

(c) Find the total interest paid over the life of the loan.
$

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Heres the solution to the mortgage amortization problem Loan parameters Principal amount P 330000 Do... View the full answer