A 25-year, $305,000 mortgage at 2.30% compounded quarterly was settled with semi-annual payments. a. What is the size of the semi-annual payments? Round to the nearest cent b. How much will the...

A 25-year, $305,000 mortgage at 2.30% compounded quarterly was settled with semi-annual payments.

a. What is the size of the semi-annual payments?

Round to the nearest cent

b. How much will the amortization period be shortened by if weekly payments of $575 are made instead of the semi-annual payments?

years

months

Express the answer in years and months, rounded to the next payment period

c. How much interest will be saved if the weekly payments of $575 are made instead of the semi-annual payments?

Round to the nearest cent