A mortgage of $550,000 is to be amortized by end-of-month payments over a 25- year period. The interest rate on the mortgage is 8% compounded semiannually. Round your final answers to 2 decimals. 1....

Extracted text: A mortgage of $550,000 is to be amortized by end-of-month payments over a 25- year period. The interest rate on the mortgage is 8% compounded semiannually. Round your final answers to 2 decimals. 1. Calculate the interest portion of the 26st payment? 2. Calculate the principal portion of the 45th payment? 3. Calculate the total interest in payments 25 to 37 inclusive. 4. How much will the principal be reduced by payments the third year? Blank # 1" Blank # 2 Blank # 3 Blank # 4 Previous Page Next Page Page 14 of 17