Ms. Juliet bought a house for $360,000 exactly five years ago. After making a 20% down-payment, she borrowed the rest of the house payment in the form of a 15-year mortgage from her local cooperative credit union. She negotiated a mortgage rate of 3.5% APR with semi-annual compounding. She makes mortgage payments of an equal dollar amount every two weeks (i.e., biweekly), and her first mortgage payment was due two weeks after she signed the mortgage contract.

With the new mortgage rate of 2.5% APR in part (e), complete the following table. Round your answers in the table to two decimal places.

Payment #	Beginning balance	Biweekly payment	Interest payment	Principal repayment	Ending balance
1
2
3
:
:
258
259
260

Answer rating: 100% (QA)

Amount of Mortgage Loan1002080 of 360000 288000 08360000 Number of payments in a year 2600 522 Bi weekly interest Rate3526 0134615 0134615 TotalNumber ... View the full answer