10. Consider a 15-yr fixed-rate mortgage for 200,000 at 6.25%.

a. What is the monthly mortgage payment?

b. What is the loan balance after 4 years, 3 months?

c. Suppose the remaining duration of the loan is 10 years and 9 months. How quickly will the loan be paid off if the 2000 is paid each month instead of the original monthly payment?

d. Suppose the remaining duration of the loan is 10 years and 9 months. How much must be added to the original monthly payment to pay off the loan in 5 years?

The correct answer is below I just need to see how to solve using a financial calculator.

a. 1714.85

b. 160,791.97

c. 25

d. 1412.4