A borrower is making a cholce between a mortgage with monthly payments or biweekly. payments. The loan will be $212.000 at 6 percent interest for 20 years. o. hat would be the ihaturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Required: Which choice would be less costly to the borrower? Hint: Assume 26 total bi-weekly payments per year for the maturity period. b. Assume that the bi-weekly loan was available for 5.75%. What would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly for the borrower? Complete this question by entering your answers in the tabs below. hat would be the maturity period if payments are bi-weekly? How much will the borrower pay in total under each payment option? Which choice would be less costly to the borwwer? Hint: Assume 26 total bi-weekly payments per year for the Note: (Do not round intermediate calculatlons Round your final answers to 2 decimal places.) maturity period