he previous attempt. The interest rate for the first five years of a $28,000 mortgage loan was 3.35% compounded semiannually. The monthly payments computed for a 10-year amortization were rounded to...

Extracted text: he previous attempt. The interest rate for the first five years of a $28,000 mortgage loan was 3.35% compounded semiannually. The monthly payments computed for a 10-year amortization were rounded to the next higher $10. (Do not round Intermedlate calculations and round your final answers to 2 decimal places.) ts a. Calculate the principal balance at the end of the first term. Principal balance $ 14870.07 b. Upon renewal at 5.85% compounded semiannually, monthly payments were calculated for a five-year amortization and again rounded up to the next $10. What will be the amount of the last payment? eBook Finai payment 83.45 Print Mc Graw Hill of 9 < prev="" net="">