Question 29 Suppose you buy a home and borrow $127,000 using a 30 year mortgage with an annual interest rate of 6.30% (compounded monthly). You recall your FI 302 professor talking about how increasing your monthly payment can save you both time and money. You decided to pay 10% more each month than what the bank suggests your payment should be. Given this, in how many years will you pay off the loan? 27.0 35.7 23.5 20.4