YOU WANT TO BUY A HOUSE THAT COSTS $400,000. YOU MAKE A 25% DOWN PA...

8. You want to buy a house that costs $400,000. You make a 25% down

payment and finance the rest with a 15 year mortgage. The mortgage has a five

year renewal term for which the annual mortgage rate is 6.5% compounded

semi-annually. What will the remaining principal of the loan be at the end of the