Question: Please answer with correct answers only Please answer all the parts A,B and C Question 7 of 7 Anika purchased a house for $400,000. She
Please answer with correct answers only


Please answer all the parts A,B and C
Question 7 of 7 Anika purchased a house for $400,000. She made a down payment of 25.00% of the value of the house and received a mortgage for the rest of the amount at 5.92% compounded semi-annually amortized over 15 years. The interest rate was fixed for a 6 year period. a. Calculate the monthly payment amount. Round to the nearest cent Question 7 of 7 b. Calculate the principal balance at the end of the 6 year term. Round to the nearest cent C. Calculate the monthly payment amount if the mortgage was renewed for another 6 years at 7.02% compounded semi-annually
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