Suppose you take out a 30 year mortgage for $ 275000 at 4% interest. The monthly payments on this loan are $ 1312.89. If you pay an extra 20% per month on your mortgage, how soon will you pay off the loan? New length in years = How much will you save in interest by making the extra payments? Saving = If you put $ 1312.89 per month into an annuity earning 5.75% interest compounded monthly for the remaining time on your original loan, how much money will you have at the end of the original 30 years? Extra savings =