you have just bought a new town house in langley appraisalvalue cad 1000000.BMO is happy to give you the mortgage at the rate of 2.06% in contract ,30 years mortgage term.according to Canada mortgage law bank can charge you interest by semi annual compounding .bank allows the maximum mortgage amount is capped either at 5.5% of the appraisal value or 6 times your annual income 2019 before tax.bank is very conservative and risk averse.your 2019 income before tax in cnd !100000.based on the above information.please calculate your monthly payment mortgage.