You are financing a new home.

The loan is for $268,000 and you are getting rate of 4.9% per year compounded monthly.

You have decided on a 15-year mortgage and will make monthly payments (end of the month).

You will pay 6% down.

To get the ball rolling, you are working extra hours and expect to pay an extra $375 per month to knock down the principle.

You make these payments for 6 years starting on month 25. The last EXTRA payment is on month 96.

Build the amortization table.

What month will you make your last payment?

How much will the last payment be?