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A homeowner has a home financed with a $550,000 15-year mortgage, paid monthly at 5.0% APR. After five years he receives $80,000 as an inheritance.

A homeowner has a home financed with a $550,000 15-year mortgage, paid monthly at 5.0% APR. After five years he receives $80,000 as an inheritance. If he pays this $80,000 toward his mortgage along with his regular payment, by approximately how many years will it reduce the amount of time it takes him to pay off his mortgage?

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