Your friend tells you he has a very simple trick for taking one-third of the time it takes to recey your mortgage Use your Christmas bonus to make an extra payment on January of each year (ratis pay your monthly payment due on that day twice) Assume that the mortgage has an original sem of 30 years and has an APR of 12% you take out your mortgage on January 1 so that your first payment is die on February and you make your trot extra payment at the end of the first year in what you will you finish paying your mortgage? youts out your mortgage on July into the first payment in August 1) Ind you make the extra peryment each January, how many month will you pay off your mortage How will the amount of time lines to pay of love this strategy vary with the internal rate on the loan? ..you tata out your mangage in Sarwary 1 fue that your first payment is dus on February 7and you more your text extra poners at the end of the first year, in what you wit you or reparing your mortgage? The loan saman is. Round to the nearest cant) The peroximate number of around to two decimal) (Select from the drop down menu and round to the nearest integet Bere the morong wil sie souty to pay of this way which costo 2/30s to of 30 yoonyou tienda B. If you take out your mortgage on July 10 that the first payment is on August 1, and you make the extra payment each January, in how many months wit you pay off your morte? The approximate number of years * Round to two decimal places) (Select from the drop down menu and round to the recreation Because the mortungen wil sie sout your pay of the way which close to 2/3 ofis He of 30 yeare your friends 6. How wil the amount of time there to pay of the longer they way with the interest rate on the The principal bwane dot rot matter, so let's asume the balance is $100.000. Begin by computing the monthly payment Select the best answer below) CA They wil reduce the amount of time to pay off the by a smaller out as the intereste O The way with more to pay of them by greater amount on the Interest rate creme OG They will remount of nato pay off by a great the real OD. They were out of to pay of the only a greater amous as the rester