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A mortgage, with an original principal balance of $ 2 9 5 , 0 0 0 , has an interest rate of 6 . 6

A mortgage, with an original principal balance of $295,000, has an interest rate of 6.65% compounded semi-annually not in advance with an amortization of 15 years. The payment frequency is bi-weekly. Your client would like to know how much of his payment will be allocated to interest in his first year of payments?
a) $18,666.65
b) $18,950.41
c) $8,843.46
d) $17,520.72

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