אני אחכה עוד שתי דקות.

אחכה is the first person singular future form of לחכות (to wait).

So:

• אני אחכה = I will wait
• The א- at the beginning marks I in the future tense.

This is why the verb already contains the idea of I even before you add אני.

Because in Hebrew, subject pronouns are often optional when the verb already shows the person.

So both are possible:

• אני אחכה עוד שתי דקות.
• אחכה עוד שתי דקות.

Adding אני can make the sentence a little clearer, more natural in conversation, or slightly more emphatic: I will wait another two minutes.

Here עוד means another, an additional, or more.

So:

• עוד שתי דקות = another two minutes / two more minutes

Be careful: עוד can mean different things in different contexts, such as still or yet. But in this sentence, it clearly means an additional amount of time.

Hebrew often expresses duration of time without a separate word for for.

So:

• אחכה עוד שתי דקות literally looks like I will wait another two minutes
• But natural English usually says I will wait for another two minutes

This is very common in Hebrew:

• חיכיתי שעה = I waited for an hour
• ישן יומיים = He slept for two days

So nothing is missing; Hebrew just structures time expressions differently from English.

Because when two comes directly before a noun, Hebrew usually uses the construct form:

• שני
  • masculine noun
• שתי
  • feminine noun

So:

• שתי דקות = two minutes

But when the number stands by itself, you usually use:

• שתיים = two (feminine form used independently)

Compare:

• יש לי שתיים. = I have two.
• יש לי שתי דקות. = I have two minutes.

Because דקה (minute) is a feminine noun.

That means the number must also use the feminine form:

• דקה → feminine singular
• דקות → feminine plural
• therefore: שתי דקות

If the noun were masculine, you would use שני instead:

• שני ימים = two days

In normal everyday Hebrew writing, vowel marks and dots such as dagesh are usually not written.

The fully pointed form is אֲחַכֶּה, where the כּ is pronounced k.

So even though you see כ without a dot in everyday text, native speakers know from the word pattern that it is pronounced k here.

That gives:

• אחכה = roughly a-kha-KE

A natural pronunciation is:

ani akhaKE od shtey daKOT

Approximate breakdown:

• אני = a-NI
• אחכה = a-kha-KE
• עוד = od
• שתי = shtey
• דקות = da-KOT

The main stress is usually on the last syllable of אחכה and דקות.

Yes, you might hear that in conversation, but it is not exactly the same.

• אני אחכה עוד שתי דקות = I will wait another two minutes
  This is clearly future.
• אני מחכה עוד שתי דקות = literally I am waiting another two minutes

In everyday spoken Hebrew, the present can sometimes be used in a near-future sense, but אחכה is the clearer and more standard way to say I will wait.

Yes, but the given order is the most neutral and natural:

• אני אחכה עוד שתי דקות.

Hebrew word order is somewhat flexible, and changing it can add emphasis. For example, moving עוד שתי דקות earlier could emphasize the time. But for a learner, the given version is the safest basic pattern:

subject + future verb + time expression.