Match the following terms with their definitions.
-Biweekly
A)Breakdown of principal and interest
B)One-time up-front payment
C)Mortgage payments rise in later years
D)Loan
E)Not fixed
F)Can prevent foreclosures
G)26 payments per year

Question

Quizplus · Accepted Answer

Biweekly payments refer to making 26 payments per year, which is essentially making a payment every two weeks instead of the more common monthly payment schedule. This results in making an extra month's payment each year, which can help pay off a loan faster.

Match the Following Terms with Their Definitions