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Irwin purchased a $195,000 home with a 30-year mortgage at 5.55%. If makes a $1500 monthly mortgage payment, how many months early will he pay off his mortgage? A. 224 months B. 127 months C. 136 months
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4 votes
Irwin purchased a $195,000 home with a 30-year mortgage at

5.55%. If makes a $1500 monthly mortgage payment, how
many months early will he pay off his mortgage?
A. 224 months
B. 127 months
C. 136 months
D. 160 months

User Hsming
by
8.5k points

1 Answer

4 votes
C. 160 months because $195,000/$1500+30 =160
User N V
by
8.6k points
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