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You take an offer for a 3 0 - year mortgage of $ 1 8 0 , 0 0 0 . The Bank of Montreal

You take an offer for a 30-year mortgage of $180,000. The Bank of Montreal offers you the following deal: instead of making the monthly payment of $928.11 every month, you can makehalf the payment every two weeks (so that you will make 52+2=26 payments a year). Howlong will it take to pay off the mortgage if the EAR on the loan is 4.75%?(Note: Be careful not to round any intermediate steps less than six decimal places.)

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