2. (1 point) For all Canadian mortgages, interest is compounded annually. 3. (1 point) The amortization period is the length of time needed to eliminate a debt. 4. (1 point) The amortization period and the term of a mortgage are different. 5. (1 point) A longer amortization period means smaller payments and less total interest paid. 6. (1 point) To find the weekly mortgage payment, divide the monthly mortgage payment by f 7. (1 point) Semi-monthly payments are usually paid on the 1st and the 15th of the month.