The Engs just purchased a home in Port Moody for $1,200,000. They made a down payment of 30% and took out a mortgage with HSBC bank for the balance amortized over 25 years at 2.79% compounded...

Extracted text: The Engs just purchased a home in Port Moody for $1,200,000. They made a down payment of 30% and took out a mortgage with HSBC bank for the balance amortized over 25 years at 2.79% compounded semi-annually for a 5-year term. Calculate their monthly payment. The bank rounds the payment up to the next dollar. O $15,010 O$1.666 $3.886 O $34,620