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Mackenzie Roth has a 30 year, 4.25% mortgage on his home. The current monthly payments for the mortgage, which has a current balance of $170,000,
Mackenzie Roth has a 30 year, 4.25% mortgage on his home. The current monthly payments for the mortgage, which has a current balance of $170,000, are $1,019.24 per month. He can now afford a $1,500 monthly payment. How long would it take him to pay off his mortgage by making a $1,500 monthly payment?
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150.7 months
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95.5 months
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145.1 months
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144.5 months
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