2. a. You are arranging a $362,000 Canadian mortgage with a 25-year amortization period and a 6.6% posted interest rate. What is the monthly mortgage payment? (Do not round Intermediate calculations. Round your answer to the nearest cent.)

the monthly mortgage payment ________?

b. Suppose the bank offers you the opportunity to pay your monthly payments in two equal installments (pay one-half of the monthly payment every 2 weeks). How much faster will you pay off your mortgage this way? (Do not round intermediate calculations. Round your answer to 1 decimal place.)

the mortgage is paid off _____ years sooner?