Multiple Choice
Your current $95,000 mortgage calls for monthly payments over 30 years at an annual interest rate of 6 percent. If you pay an additional $50 each month beginning with the first payment, how soon do you pay off your mortgage?
A) 329.67 months
B) 311.56 months
C) 291.78 months
D) 288.45 months
Correct Answer:
Verified
Correct Answer:
Verified
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