Jackie Rambler purchased a home for $109,000. Oakwood Mortgage Company approved her loan application for a 22-year fixed-rate loan at 6.25%. Jackie agreed to pay 20% of the purchase price as a down payment. How much interest would she have saved if she made the same loan with the same down payment for 12 years?

Monthly Payment of Principal and Interest per $1,000 of Amount Financed Annual interest rate Years financed 4% 4.25% 4.5% 4.75% 5% 5.25% 5.50% 5.75% 6% 6.25% 6.5% 6.75% 7% 7.25% 7.5% 7.75% 10 10.12 10.24 10.36 10.48 10.61 10.73 10.85 10.98 11.10 11.23 11.35 11.48 11.61 11.74 11.87 12.00 12 8.76 8.88 9.00 9.12 9.25 9.37 9.50 9.63 9.76 9.89 10.02 10.15 10.28 10.42 10.55 10.69 15 7.40 7.52 7.65 7.78 7.91 8.04 8.17 8.30 8.44 8.57 8.71 8.85 8.99 9.13 9.27 9.41 17 6.76 6.89 7.02 7.15 7.29 7.42 7.56 7.69 7.83 7.97 8.11 8.25 8.40 8.54 8.69 8.83 20 6.06 6.19 6.33 6.46 6.60 6.74 6.88 7.02 7.16 7.31 7.46 7.60 7.75 7.90 8.06 8.21 22 5.70 5.84 5.97 6.11 6.25 6.39 6.54 6.68 6.83 6.98 7.13 7.28 7.43 7.59 7.75 7.90 25 5.28 5.42 5.56 5.70 5.85 5.99 6.14 6.29 6.44 6.60 6.75 6.91 7.07 7.23 7.39 7.55 30 4.77 4.92 5.07 5.22 5.37 5.52 5.68 5.84 6.00 6.16 6.32 6.49 6.65 6.82 6.99 7.16 35 4.43 4.58 4.73 4.89 5.05 5.21 5.37 5.54 5.70 5.87 6.04 6.21 6.39 6.56 6.74 6.92