LOAN INTEREST CALCULATION

[davekk]

THE APR INTEREST IS 4.785% , THE LOAN IS $358,000.00
THE TERM IS 30 YEARS
PAYMENTS ARE BI-WEEKLY
WHEN I SELECT COMPUTE THE INTEREST SHOWS 90.78 PERCENT
AND THE REPAYMENT AMOUNT SHOWS $875.63

THESE VALUES ARE INCORRECT!
Interest Rate 4.875%
REPAYMENT SHOULD BE $1,894.57 Monthly Payment
$947.28 Bi-weekly Payment

MY PAYMENTS ARE BI-WEEKLY, THAT IS DIFFERENT THAN TWICE A MONTH!
THERE ARE TWO MONTHS DURING THE YEAR THAT HAVE 3 PAYMENTS THAT WILL YIELD AN EXTRA PAYMENT DURING THE YEAR.
THIS CALCULATOR DOES NOT SEEM TO OFFER THE BI-WEEKLY PAYMENT OPTION AND WHAT ABOUT THE PERCENTAGE SHOWING 90.78 PERCENT?

PLEASE LET ME KNOW WHAT CAN I DO TO AMORTIZE A BI-WEEKLY LOAN?
I PURCHASED THE CALCULATOR TO BE ABLE TO DO THIS AND AM REGISTERED
Order-ID: #P2009002958
Date: 03/22/2009