Question: You obtain a $ 7 5 0 , 0 0 0 mortgage loan from CIBC to buy a house. The mortgage has a 5 -

You obtain a $ 7 5 0 , 0 0 0 mortgage loan from CIBC to buy a house. The mortgage has a 5 - year fixed rate of 4 % / year ( using Canadian mortgage convention ) , and the amortization period of the mortgage is 2 0 years. ( a ) What is the monthly mortgage payment? ( b ) How much do you owe CIBC after the 3 6 th monthly payment? ( c ) For the 4 5 th monthly payment, how much of it is for interest, and how much of it is for principal repayment

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