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Five years ago, the Bridges purchased a house and took out a mortgage of $600.000 from the BMO bank. They amortized the mortgage over 25

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Five years ago, the Bridges purchased a house and took out a mortgage of $600.000 from the BMO bank. They amortized the mortgage over 25 years at 2.79% compounded semi-annually for a 5-year term. The bank calculated their monthly payment should be $2.776. What percentage of the mortgage have they paid off after making 4 years of payments? 2.78% 11.74% 88.26% 9.29% 35.18%

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