Question: need the A and B sections with the red x's and answers have to be in two decimal place format. A borrower is making a

A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The loan will be $200,000 at 6 percent interest for 20 years. Required: a. 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 to the borrower? 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 to the borrower? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B 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 to the borrower? (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Maturity period 17.26 years Total monthly payments $ 1.432.863 Total bi-weekly payments $ 677.07 Choice of borrower Bi-weekly payment Required A borrower is making a choice between a mortgage with monthly payments or biweekly payments. The loan will be $200,000 at 6 percent interest for 20 years. Required: a. 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 to the borrower? 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 cholce would be less costly to the borrower? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required 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 to the borrower? (Do not round intermediate calculations. Round your final answers to 2 decimal places.) Maturity period 16.73 years Total monthly payments $ 716.43 Total bl-weekly payments $ 647.053 Choice of borrower Bi-weekly payment
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