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Aisha and her husband were planning to purchase an apartment in British Columbia. They could afford to pay $1,400 every month towards mortgage payments. Their

Aisha and her husband were planning to purchase an apartment in British Columbia. They could afford to pay $1,400 every month towards mortgage payments. Their mortgage broker was offering them a variable, open interest rate of 5.00% compounded semi-annually amortized over 25 years. Calculate the maximum mortgage amount they can afford.

Round to the nearest cent

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