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Mike is buying a new construction $437.500 house in the suburbs. He's so excited to finally purchase his dream home. He's been approved for a

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Mike is buying a new construction $437.500 house in the suburbs. He's so excited to finally purchase his dream home. He's been approved for a $350,000 mortgage with the terms as shown below. Mike wants to get out of debt as fast as possible and can afford to make $250 in extra payments on his mortgage. Use the Loan Repayment Calculator to figure out the below: If Mike makes $250 of extra payments each month on his mortgage, what's his total interest savings? Imagine if he invested these savings over time how much money that could grow to. How much faster does Mike repay his mortgage by making the extra $250 payment each month? years x

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