The Taylors agreed to make monthly payments on a mortgage of $335 000 amortized over 15 years. Interest for the first three years was 4.5% compounded semi-annually. Determine the mortgage balance at the end of the three-year term. (Rounded to the nearest dollar)

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Part 1

A.

$291,087.29

B.

$282,909.28

C.

$281,177.09

D.

$284,603.06