Question: A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over

A man buys a house for $350,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 10 years. The interest rate on the debt is 12%, compounded semiannually.

(a) The size of each payment.

(b) The total amount paid for each purchase.

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