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Assume the couple purchases a home with a $ 4 0 0 , 0 0 0 , fixed - rate mortgage ( fixed - rate
Assume the couple purchases a home with a $ fixedrate mortgage fixedrate mortgages are compounded semiannually in Canada and they opt for monthly payments, a term of years at a rate of and an amortization period of years.All else equal, if they had chosen instead an accelerated biweekly payment, how much interest would they save over the life of the mortgage? Round to the nearest dollar.Total Interest with Monthly PaymentsTotal Interest with Accelerated Biweekly PaymentsCalculationCalculationTotal Interest Savings
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