A borrower is making a choice between a mortgage with, Ask an Expert

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A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The loan will be $200,000 at 6 percent interest for 20 years.

a. How would you analyze these alternatives?

b. What if the biweekly loan was available for 5.75 percent? How would your answer change?

c. If you take the monthly payment and agree to pay ½ of it every two weeks, when would your loan reach maturity? (ANSWER THIS?)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92663708

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