If you were to decide that bi-weekly payments (bi-weekly means you pay once every two weeks or 26 payments per year) better fitted your cash flow than monthly payments, based on the same numbers used above (principal of $720,000, 3.5% interest rate, compounded twice a year and amortized over 30 years), what is your bi-weekly mortgage payment?

Multiple Choice

• $1,659.47

• $2,154.45

• $1,486.37

• $950.50