You have negotiated the price of a house for $775,000. The bank is willing to advance you a loan worth 80% of the value of the house. The bank is offering you a mortgage rate of 3.6% for a loan amortized over 30 years. How much will you pay in mortgage to the bank in one year? The mortgage is compounded semi-annually.

$33,714

$42,143

None of the options listed

$31,712

$42,282