Prepare an amortization table for a 30-year loan in the amount of $250,000 at an annual rate of 4.875% assuming monthly payments. NOW add a column for extra principal payments and make the extra principal amount paid each month be the same as the scheduled principal for the month. How quickly would the loan payoff?

(Example: If the monthly payment is $1500 and in month 1 the principal payment is $125 and the interest is $1375, then the extra principal paid would be $125. Further, if the monthly payment is $1500 and in month 15 the principal payment is $275 and the interest portion is $1225, then the extra principal paid would be $275.)