Question: Final exam Question 14 (4 points) Word Problem Question 4: (You have to submit an image of your FULL solution to the question in eConestoga

Final exam

Question 14 (4 points) Word Problem Question 4: (You have to submit an image of your FULL solution to the question in eConestoga -> Course Tools -> Assignments [Final Exam Submission]) A mortgage of $500,000 is to be amortized by end-of-month payments over a 25- year period. The interest rate on the mortgage is 6% compounded semiannually. Round your final answers to 2 decimals. 1. Calculate the interest portion of the 29th payment? 2. Calculate the principal portion of the 46th payment? 3. Calculate the total interest in payments 41 to 50 inclusive. 4. How much will the principal be reduced by payments in the second year

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