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A $300,000 mortgage is taken out at the interest
rate of 9% per annum to be amortised over 25 years.
a. Calculate the regular annual payment if it is amortised
by annual payments with annual compounding.
b. Calculate the regular semi-annual payment if it is
amortised by semi-annual payments with semi-annual compounding.
c. Calculate the regular quarterly payment if it is amortised
by quarterly payments with quarterly compounding.
d. Calculate the regular monthly payment if it is amortised
by monthly payments with monthly compounding.
Sagot :
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