Part $4(2$ marks$)$

Assume the couple purchases a home with a $$400,000,$ fixed$-$rate mortgage $($fixed$-$rate mortgages are compounded semi$-$annually in Canada$)$ and they opt for monthly payments, a term of $5$ years at a rate of $6\mathrm{.}2\%,$ and an amortization period of $25$ years.

All else equal, if they had chosen instead an accelerated bi$-$weekly payment, how much interest would they save over the life of the mortgage? Round to the nearest dollar.

$\backslash$table$[[\backslash$table$[[$Total Interest with Monthly$],[$Payments$]],\backslash$table$[[$Total Interest with Accelerated Bi$-$weekly$],[$Payments$]]],[$Calculation$,$Calculation$],[$Total Interest Savings,$]]$