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Answer :
Final answer:
To estimate your monthly mortgage payment when you have a bi-weekly payment of $657, divide the bi-weekly payment by 2 and multiply it by 12.
Explanation:
To estimate your monthly mortgage payment when you have a bi-weekly payment of $657, you need to understand how many weeks are typically in a month.
In general, there are 4 weeks in a month, so if you make 2 bi-weekly payments in a month, you make a total of 8 payments in a year.
Therefore, to estimate your monthly mortgage payment, you would divide the bi-weekly payment by 2 and multiply it by 12, so for a $657 bi-weekly payment, the estimated monthly mortgage payment would be $1,314.
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