1 Suppose during our 25 year mortgage from the previous Investigation exercises that a lump sum payment of 13 800 was made at

Question

1 Suppose during our 25 year mortgage from the previous Investigation exercises that a lump sum payment of 13 800 was made at the end of the 1st 5 year term and a lump sum payment of 18 000 was made at the end of the next 10 year term The final term would then consist of the remaining 10 years a Complete the following table the payment amount for Term 1 can be obtained from Investigation 1 exercise 1 a Term 1 5 years Term 2 10 years Term 3 10 years b Outstanding Number principal at beginning of term 300 000 payments in term Lump sum payment at beginning of term 13 800 18 000 Outstanding Payment principal after Lump sum payment 300 000 Total amount paid during the term including lump sum payment Number payments remaining in mortgage at end of term Calculate the total amount paid during the lifetime of the mortgage by adding

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