A $100,000 mortgage loan has a 25-year amortization.
a) Calculate the monthly payment at interest rates of 6%, 7%, and 8% compounded semi-annually.
b) By what percentage does the monthly payment on the 8% mortgage exceed the monthly payment on the 7% mortgage?
c) Calculate the total interest paid over the entire 25-year amortization period at each of the three interest rates. (Assume the final payment equals the others.)

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The Answer of A $100,000 mortgage loan has a 25-year amortization.
a) Calculate the monthly payment at interest rates of 6%, 7%, and 8% compounded semi-annually.
b) By what percentage does the monthly payment on the 8% mortgage exceed the monthly payment on the 7% mortgage?
c) Calculate the total interest paid over the entire 25-year amortization period at each of the three interest rates. (Assume the final payment equals the others.)

A $100,000 Mortgage Loan Has a 25-Year Amortization