Transcribed Image 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

Transcribed Image 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. 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.
Options:
a) 2240
b) 2160
c) 2080
d) 2000
e) 1920
f) None of the above

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