The following information is for parts (a)(c). You obtain a $800,000 mortgage loan from Bank of...

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The following information is for parts (a)(c). You obtain a $800,000 mortgage loan from Bank of Montreal to buy a house. The mortgage has a 5-year fixed rate of 6%/year (using Canadian mortgage convention), and the amortization period of the mortgage is 20 years. (a) What is the monthly mortgage payment? (b) For the 24th monthly payment, how much of it is for interest and how much of it is for principal repayment? (c) Instead of paying the mortgage on a monthly basis, you change your payment schedule to a weekly basis. Assuming there are 52 weeks each year, how much would be your weekly payment? (d) (Part (d) is unrelated to parts (a)(c).) Suppose the stated interest rate is 5%/year, continuously compounded. Consider a sequence of 100 payments of $50 each, payable once every 3 years, with the first one starting 10 years from now. What is the present value of these cashflows? The following information is for parts (a)(c). You obtain a $800,000 mortgage loan from Bank of Montreal to buy a house. The mortgage has a 5-year fixed rate of 6%/year (using Canadian mortgage convention), and the amortization period of the mortgage is 20 years. (a) What is the monthly mortgage payment? (b) For the 24th monthly payment, how much of it is for interest and how much of it is for principal repayment? (c) Instead of paying the mortgage on a monthly basis, you change your payment schedule to a weekly basis. Assuming there are 52 weeks each year, how much would be your weekly payment? (d) (Part (d) is unrelated to parts (a)(c).) Suppose the stated interest rate is 5%/year, continuously compounded. Consider a sequence of 100 payments of $50 each, payable once every 3 years, with the first one starting 10 years from now. What is the present value of these cashflows?