Question: You have a 2 5 - year $ 4 0 0 , 0 0 0 mortgage with a 3 . 5 % rate of interest

You have a 25-year $400,000 mortgage with a 3.5% rate of interest that is compounded semi-annually. Payments
are made monthly. How much interest will you pay by the end of year five, up to and including payment number
sixty?
You have a 25-year $400,000 mortgage with a 3.5% rate of

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