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You take an offer for a 3 0 - year mortgage of $ 2 0 0 , 0 0 0 . The Bank of Montreal
You take an offer for a year mortgage of $ The Bank of Montreal offers you the following deal: instead of making the monthly payment of $ every month,
you can make half the payment every two weeks so that you will make payments a year How long will it take to pay off the mortgage if the EAR on the loan is
Note: Be careful not to round any intermediate steps less than six decimal places.
The amount of time to pay off the loan is
weeks. Round to the nearest integer.
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