Question: Please help me answer the following question with clear answers. Thank you Round to 4 decimal places for all answers Question 9a) b) Compute the
Please help me answer the following question with clear answers. Thank you
Round to 4 decimal places for all answers
Question 9a)

b) Compute the monthly mortgage payment by using the loan payment formula:
C) Compute the remaining balance on the mortgage
d) Find the cash from the sale once the mortgage has been paid off. Subtract the remaining balance from the price paid for the house to find the cash that remains after paying off the mortgage
You have just sold your house for $1,100,000 in cash. Your mortgage was originally a 30-year mortgage with monthly payments and an initial balance of $750,000. The mortgage is currently exactly 18.5 years old, and you have just made a payment. If the interest rate on the mortgage is 5.25% (APR with semi-annual compounding), how much cash will you have from the sale once you pay off the mortgage? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. What is the discount rate for the mortgage? The discount rate for the mortgage is %. (Round to four decimal places.)
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