Question:

34. [-70.1 Points] DETAILS HARMATHAP12 6.5.017. The problem describes a debt to be amortized. (Round your answers to the nearest

34. [-70.1 Points]
DETAILS
HARMATHAP12 6.5.017.
The problem describes a debt to be amortized. (Round your answers to the nearest cent.)
A man buys a house for $370,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 7 years. The interest rate on the debt is 9%, compounded semiannually.
(a) Find the size of each payment.
(b) Find the total amount paid for the purchase.
$
(c) Find the total interest paid over the life of the loan.
$
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34. [-70.1 Points] DETAILS HARMATHAP12 6.5.017. The problem describes a debt to be amortized. (Round your answers to the nearest cent.) A man buys a house for $370,000. He makes a $150,000 down payment and amortizes the rest of the purchase price with semiannual payments over the next 7 years. The interest rate on the debt is 9%, compounded semiannually. (a) Find the size of each payment. (b) Find the total amount paid for the purchase. $ (c) Find the total interest paid over the life of the loan. $ Need Help? Read Watch 11

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