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QUESTION
Suppose you borrow $175,000 with a 30 year mortgage loan at 5%. You decide that you want to pay off the loan in 15 years instead of 30.
Suppose you borrow $175,000 with a 30 year mortgage loan at 5%. You decide that you want to pay off the loan in 15 years instead of 30. How much extra, above and beyond the required payment, would you need to pay each month in order to accomplish this?
