Mathematics, 16.12.2020 08:40, dnjames01

You can save a significant amount of mortgage interest paid if you make one additional principal and interest payment a year. This will reduce a 30-year mortgage by around 6 years. It also increases your equity in the home faster. If you choose to pay one additional mortgage payment a year by paying 1/12 of it each month (make certain to note the extra money is to reduce principal), how much will you pay each month for a mortgage of $152,000 at 3.5% for 16 years?

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You can save a significant amount of mortgage interest paid if you make one additional principal and...