PLEASE USE TIBAA CALCULATOR FUNCTIONSSS NO FORMULAS

IMPORTANT: You MUST use the TI BA Il calculator features to solve questions whenever possible. If you use formulas when not needed you will be given ZERO marks for that question. 1. A $190,000 mortgage is to be amortized by making monthly payments for 20 years. Interest is 6.5% compounded semi-annually for a 3-year term. If the mortgage is renewed for a 5-year term at 7.25% compounded semi-annually, what is the size of the monthly payment for the renewal term? (5 marks) Hint 1: First compute the size of the monthly payment. Hint 2: Then determine the balance at the end of the 3-year term 414 IMPORTANT: You MUST use the TI BA Il calculator features to solve questions whenever possible. If you use formulas when not needed you will be given ZERO marks for that question. 1. A $190,000 mortgage is to be amortized by making monthly payments for 20 years. Interest is 6.5% compounded semi-annually for a 3-year term. If the mortgage is renewed for a 5-year term at 7.25% compounded semi-annually, what is the size of the monthly payment for the renewal term? (5 marks) Hint 1: First compute the size of the monthly payment. Hint 2: Then determine the balance at the end of the 3-year term 414