Question: A 2 5 - year, $ 4 7 0 , 0 0 0 mortgage at 4 . 2 0 % compounded quarterly is repaid with

A 25-year, $470,000 mortgage at 4.20% compounded quarterly is repaid with monthly payments.
a. What is the size of the monthly payments?
$0.00
Round to the nearest cent.
b. Find the balance of the mortgage at the end of 8 years?
$0.00
Round to the nearest cent.
c. By how much did the amortization period shorten by if the monthly payments are increased by $150 at the end of year eight?
0
years
0
months
Express the answer in years and months, rounded to the next payment period.

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