A mortgage company offers to lend you $150,000; the loan calls for monthly payments for 20 years with monthly interest rate of 1%. At the end of year one you plan to prepay $15,000. Assume the same monthly mortgage payment, the life of the mortgage will be shorten from the original 20 years to

Question 1 options:

a)	12 years and 6 months

b)	13 years and 2 months

c)	14 years and 9 months

d)	15 years and 2 months

e)	16 years and 5 months