You just purchased a home for $$350,000$ and you made a required down payment of $20\%($$$70,000).$ So you are financing $$280,000$ over $30$ years $(360$ months$)$ at $6\%.$ A$)$ How much are your payments on the loan? B$)$ Your spouse is a great financial planner and says it would be very prudent to pay an EXTRA $$200$ per month on the mortgage payments. How many monthly payments will you $$knock off$$ or reduce your original $360$ payments? How much interest will you save over the life of the loan by making the extra $$200$ per month payment?

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