You purchase a house for $1.3m and you put a 20% down payment and take out a mortgage on the remainder. Your mortgage agreement specifies a rate of 2% APR compounded semi-annually. You will make...

Options:

a) 2240

b) 2160

c) 2080

d) 2000

e) 1920

f) None of the above

Extracted text: You purchase a house for $1.3m and you put a 20% down payment and take out a mortgage on the remainder. Your mortgage agreement specifies a rate of 2% APR compounded semi-annually. You will make bi-weekly (every 2 weeks) payments for 25 years. What are your payments (within $40) Make sure to follow our conventions otherwise you may end up choosing the incorrect solutions to the question: 4 decimal places for factor values. 4 positive decimal places for interest rates. Use of factor equations, when available, for all but the (F/P..) and (P/F.) factors.