Two years ago, you obtained a 15-year mortgage loan of $200,000. Your monthly payment is $2,400.34 (these are end of the month payments). Today, the loan balance is $189,201.55. You want to pay off the loan early than initial maturity date. You want to know how much do you have to add to your monthly payment in order to pay off the loan in 9 years. The APR on the loan is 12% compounded monthly. You can use/access the TVM formulas/excel file by clicking the following link: TVM formulas & excel (these are for ordinary annuities. ** Do not enter the $ sign. Round of to the nearest dollar (no decimals) and DO NC USE commas to separate thousands. For example, if your answer is $1,340.77 the enter 1341

Two years ago, Jou obtained a 15-year mortgage loan of $200,000. Your monthly payment is $2,400.34 (these are end of the month payments). Today, the loan balance is $189,201.55. You want to pay off the loan early than initial maturity date. You want to know how much do you have to add to your monthly payment in order to pay off the loan in 9 years. The APR on the loan is 12% compounded monthly. You can use/access the TVM formulas/excel file by clicking the following link: TVM formulas \& excel (these are for ordinary annuities. ** Do not enter the \$ sign. Round of to the nearest dollar (no decimals) and DO NO USE commas to separate thousands. For example, if your answer is $1,340.77 the enter 1341