Question: Vanessa is purchasing property worth $1,490,000 with a down payment of $327,800 and semi-annual payments at the end of every six months for 30 years.

Vanessa is purchasing property worth $1,490,000 with a down payment of $327,800 and semi-annual payments at the end of every six months for 30 years. If interest is 2.43% compounded monthly: (a) What is the amount of each payment? Round the answer to the nearest cent. P/Y= C/Y= NE 1/Y PV = $ PMT = $ FV = 5 (b) What is the cost of financing? Round the answer to the nearest cent. Cost of financing = 5 (enter a positive value) Lindsey took out a mortgage of $400,000 for a house and just made the 71st end of month payment. If interest on the loan was 3.69% compounded monthly and the mortgage has a period of 20 years. 1) What are her monthly payments? Round PMT to two decimal places. P/Y = C/Y= N = 1/Y= PV = $ PMT = 5 FV = 5 2) What is her current outstanding balance after the 71st payment? Outstanding Balance = $ (enter a positive value rounded to two decimal places)

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