Question: Chad purchased a house for ( $ 375,000 ). He made a downpayment of 15 of the value of the house and received a mortgage

$Chad purchased a house for \$ \\$ 375,000 \$. He made$

Chad purchased a house for \$ \\$ 375,000 \$. He made a downpayment of \15 of the value of the house and received a mortgage for the rest of the amount at \4.25 compounded semi-annually for 20 years. The interest rate was fixed for a 5 -year term. a. Calculate the size of then monthly payments. Round to the nearest cent b. Calculate the principal balance at the end of the 5-year term. Round to the nearest cent

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