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You have negotiated the price of a house for $875,000. The bank is willing to advance you a loan worth 95% of the value of

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You have negotiated the price of a house for $875,000. The bank is willing to advance you a loan worth 95% 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. $42,822 O $40,443 None of the options listed $45,201 $38,064

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