You have just found your dream home. In order to buy the house you will borrow $100,000 today. You have bad credit, so the interest rate on the loan will be 12 percent nominal interest, compounded monthly. You are scheduled to pay off the loan with monthly payments over the next 30 years. The first payment is due one month after you borrow the money. As such, your scheduled payments will be $1,028.61 per month. Instead of making the $1,028.61 payments, you make payments of $1,600 per month. How long will it take you to pay off the loan?