You borrow $1,000,000 at 3% compounded semi-annually and will pay it off over bi-weekly (every two weeks) payments for 25 years. What will your payments be? Note: remember to round interest rates to four positive decimal places, and to round factors to four decimal places. That is our convention in the course. Solution: A=1,000,000(A{'P,ibw= (1+.03/2jm'51=.001146,N=25*26=650i=1,000,000(.0022)=2200 _Note: if you don't round the factor your solution will be 2133.