Calculate the payment amounts when the mortgages below are renewed for a second term Assume interest...

   

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Calculate the payment amounts when the mortgages below are renewed for a second term Assume interest rates are fixed and compounded sem-annaily, and that the amortzation perod reduc appropriately upon renowal For full marks your answer should be rounded to the nearest cont Original Principal Period (Years) $237,635 Amortization First-Term Second-Term Information New Information Payment 30 7% 5.50% 0.00 Monthly payments Biweekly payments 5-year term 3-year term $351,160 7.50% 3.75% 0.00 Weekly payments Monthly payments 4-year term 5-year term $242,329 30 5.50% 3.50% 0.00 Biweekly payments Biweekly payments 3-year term 4-year term 20 Calculate the payment amounts when the mortgages below are renewed for a second term Assume interest rates are fixed and compounded sem-annaily, and that the amortzation perod reduc appropriately upon renowal For full marks your answer should be rounded to the nearest cont Original Principal Period (Years) $237,635 Amortization First-Term Second-Term Information New Information Payment 30 7% 5.50% 0.00 Monthly payments Biweekly payments 5-year term 3-year term $351,160 7.50% 3.75% 0.00 Weekly payments Monthly payments 4-year term 5-year term $242,329 30 5.50% 3.50% 0.00 Biweekly payments Biweekly payments 3-year term 4-year term 20

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Answer 237635 mortgage Original monthly payment 1377 New monthly payment 1475 351160 mortga... View the full answer