Your Current $155,000 Mortgage Calls for Monthly Payments Over 25

Multiple Choice

Your current $155,000 mortgage calls for monthly payments over 25 years at an annual rate interest rate of 6 percent.If you pay an additional $50 each month beginning with the first payment,how much interest expense do you save by pre-paying?

A) $15,981.28
B) $16,009.62
C) $17,152.22
D) $19,001.69