Question $1(10$ points$)$

Mrs$.$ Shaw takes out a $$380000$ mortgage on a new house for $25$ years. The interest rate is $3\mathrm{.}4\%$ per year, compounded semi$-$annually. Show your work!

a$)$ Using the formulas from the lesson and showing all of your steps, determine the monthly payments?

b$)$ Now verify your answer using the TVM Solver. Show the breakdown of your screen like the example below.

c$)$ Using your values from part $b,$ how much interest is paid over the life of the mortgage?