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mortgage math problem
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r82230
Posted 1/20/2025 12:03 (#11064471 - in reply to #11064208)
Subject: RE: Bi weekly OR 2 pays per month



Thumb of Michigan
OntarioCanuck - 1/20/2025 10:09

I read some of the replies and wonder if you want bi weekly or 2 pays per month
I think it would be 2 different answers and each month payment would be different if 2 pays per month.

I expect calculations are based on days


My first though too. There is a difference between bi-weekly and semi-monthly (26 bi-weekly occurrences per year verses 24 semi-monthly occurrences). So using bi-weekly would represent 13 payments per year.

I could dig my financial calculator out and calculate the differences if need.
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