Question 6 (1 point)

You borrow one million dollars to purchase a house. The loan is amortized over a 25-year period. You contract on a rate of 10% compounded semi-annually with bi-weekly (every two weeks) payments for a fixed rate 5-year term. You make an additional $50,000 payment at the end of the fourth year. What do you owe at the end of the 5-year term (within 2000)?

Question 6 options:

	876k
	880k
	884k
	888k
	None of the above