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Business, 03.06.2021 19:20 nataliamontirl6079

You just entered into a​ $150,000 30-year home mortgage at an annual interest rate of​ 4.25% making monthly payments of​ $737.91. Suppose you add an additional payment of​ $295.97 each month to the​ $737.91 house payment making your total monthly payments equal to​ $1,033.88. This extra amount is applied against the principal of the original loan. How long will it take you to pay off your loan of​ $150,000? Use a calculator to determine your answer.

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