Four years ago Cody and Mary purchased a home and got a 635

Last updated: 12/16/2022

Four years ago Cody and Mary purchased a home and got a 635 372 mortgage with a 30 year amortization at 5 interest compounded semi annually and weekly payments The term of the mortgage is now over and they are renewing on the same amortization timeline for a three year term at 3 50 interest compounded semi annually and biweekly payments For full marks your answer should be rounded to the nearest cent What is the balance remaining after the first term Balance 0 00 How much are the new payments for the second term Payment 0 00