Math question

5. The Smith's are purchasing a house listed for $615,000. The have a down payment of $135,000 and they have been financed at a xed, 5 year rate of 3.4% compounded semi-annually. 3) Determine the size of bi-weekly payments they will need to make if their mortgage is for 25 years. (6 marks) b) What will be the outstanding balance at the end of rst five years? {3 marks) c) If they are refinanced at 4.25% compounded semi-annually for the next 5 years, what will be the size of their new bi-weekly payments