How soon will you pay off the loan-new length in years

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Reference no: EM13924468

Suppose you take out a 30 year mortgage for $ 275000 at 4.75% interest. The monthly payments on this loan are $ 1434.53.

If you pay an extra 40% per month on your mortgage, how soon will you pay off the loan?

New length in years =

Reference no: EM13924468

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How soon will you pay off the loan-new length in years : Suppose you take out a 30 year mortgage for $ 275000 at 4.75% interest. The monthly payments on this loan are $ 1434.53. If you pay an extra 40% per month on your mortgage, how soon will you pay off the loan?

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