Final answer:
The amount of the mortgage owing at November 25, 2024 is $43,061. The revised amount of the mortgage payable at November 25, 2024 is $66,061. The total amount paid from December 25, 2024, to June 25, 2026 is $22,212.
Step-by-step explanation:
To calculate the amount of the mortgage owing at November 25, 2024, we need to determine the number of months between June 25, 2024, and November 25, 2024. There are 5 months in between. The monthly instalment payments are $647, so the amount paid by that date is $647 * 5 = $3,235. Subtracting this amount from the mortgage owing on June 25, 2024, we get $46,296 - $3,235 = $43,061.
To calculate the revised amount of the mortgage payable at November 25, 2024, we add the $23,000 outstanding on the line of credit to the mortgage payable amount. Therefore, the revised amount is $43,061 + $23,000 = $66,061.
To prepare an instalment payment schedule using the revised instalment payments of $1,234 from December 25, 2024, to June 25, 2026, we need to calculate the number of months in that period. There are 18 months in between. Multiplying the monthly payment by the number of months gives us $1,234 * 18 = $22,212, which is the total amount paid during that period.