What is the maximum value of the mortgage that Ianna may obtain from the bank?

The bank has determined that, based on a TDS ratio of 40 percent and other factors, the maximum monthly mortgage payment that lanna qualifies to make is $2,416. The five-year fixed rate of interest is 4 percent compounded semi-annually, and the mortgage is to be amortized over 25 years. What is the maximum value of the mortgage that lanna may obtain from the bank? The maximum value of the mortgage is $ (Use the TI BA II Plus financial calculator and enter your answer rounded to the nearest cent.)