Aishas gross income is $80,000 a year. She just purchased her first home with a 25-year amorAzaAon period and a 2.9%, compounded semi-annually, mortgage rate locked in for a 5-year term. Her payments are monthly. She will also have to pay $2,000 a year in heaAng costs, and $4,000 a year in municipal taxes. Hers was a convenAonal mortgage, and her GDS raAo was 0.30. How much did she pay for her house? Note: The balance of a loan is equal to the present value of the remaining payments.

a) $400,530 b) $384,509 c) $350,601 d) $320,424