Michael has a home loan with a fixed monthly payment of $681.82. The interest rate on her loan is 3.75% APR compounded monthly. The remaining balance on the home loan is $106,976.20 with 18 more years of monthly payments left.

1) What is the total of all remaining payments on the loan? 2) How much of the remaining payments goes toward paying interest?

Paying above the minimum payment will gaurantee a return equal to the outstanding interest on the amount over the minimum payment at the time it is made: 3) What is the future value of paying an addtional dollar with 18 years of payments left given the interest rate of the loan? 4) How much does each addtional dollar paid save in interest with 18 years left on the loan?