(CO B) Ms. Towne is buying a home for $250,000 and is puttingdown 20% cash on the purchase. She is financing the rest with a30-year, fixed rate mortgage with a rate of 4.625% but isconsidering an option that would allow her to make biweeklypayments. How much interest would the biweekly payment option allowher to save over the life of the loan and how long would it take topay off the loan?
