Oppenheimer Bank is offering a 30

30-year mortgage with an APR of 4.8 %

4.8% based on monthly compounding. With this mortgage your monthly payments would be $ 2 comma 016

$2,016 per month. Inaddition, Oppenheimer Bank offers you the followingdeal: Instead of making the monthly payment of $ 2 comma 016

$2,016 everymonth, you can make half the payment every two weeks(so that you will make 52 divided by 2 equals 26

52/2=26 payments peryear). With thisplan, how long will it take to pay off the mortgage if the EAR of the loan isunchanged