Question: Can somebody help me with this task by explaining everything in detail? 6. Mathematics of Finance A couple buys a two room apartment in Brugg

Can somebody help me with this task by explaining everything in detail?

6. Mathematics of Finance A couple buys a two room apartment in Brugg for 600000 CHF. The couple makes a 120'000 CHF down payment and amortizes the rest of the purchase price with quarterly payments of 6'080.44 CH F. The interest rate is 3 % compounded quarterly. After 10 years the couple refinances at 2 % compounded quarterly for 20 years, with refinancing costs of 1'208 added to the new loan. All payments are done at the end of the quarters. a) Find the amount of the new loan. b) Find the new quarterly payment

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