Calculate the monthly payment of a $$750,000$ mortgage. The mortgage has an amortization of $25$ years. The interest rate for a $5-$year term mortgage is $5\mathrm{.}70\%$ compounded semi$-$annually not in advance.

a$)$ $$4,665\mathrm{.}61$

b$)$ $$4,665\mathrm{.}62$

c$)$ $$4,665\mathrm{.}63$

d$)$ $$4,665\mathrm{.}64$

Answer rating: 100% (QA)

To calculate the monthly payment of a mortgage you can use the PMT function in Excel The PMT functio... View the full answer