Question: need help with question 8 please. 8. Alibaba took out a 25-year amortization $273,875 mortgage five years ago at 4.85% compounded semi-annually and has been

need help with question 8 please.

8. Alibaba took out a 25-year amortization $273,875 mortgage five years ago at 4.85% compounded semi-annually and has been making monthly payments. He will renew the mortgage for a three-year term today at an interest rate of 6.1% compounded semi-annually on the same amortization schedule. What are his new monthly mortgage payments? Applications 9. Monthly payments are to be made against an $850,000 loan at 7.15% compounded annually with 15

8. Alibaba took out a 25 -year amortization $273,875 mortgage five years ago at 4.85% compounded semi-annually and has been making monthly payments. He will renew the mortgage for a three-year term today at an interest rate of 6.1% compounded semi-annually on the same amortization schedule. What are his new monthly mortgage payments? Applications 9. Monthly payments are to be made against an $850,000 loan at 7.15% comnounded

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