Posted on: 11th Jan, 2009 05:24 pm
how much extra should i pay a month to accomplish paying a 140,00 loan in 5 years with a 7% intrest rate
2772.17 is the full amount per month for 5 years. Don't how much extra, because there is not info. I would recommend asking the note holder for a more accurate result. I would also look into discounts to the overall balance when paying that much extra.
Welcome pdjackson.
You can use the FRM Calculator to find out what monthly payment is required in order to pay off a mortgage in 5 years at 7% interest rate. Then you can subtract your current monthly payment from the figure you've calculated. That'll give you the extra amount you need to pay.
Thanks.
You can use the FRM Calculator to find out what monthly payment is required in order to pay off a mortgage in 5 years at 7% interest rate. Then you can subtract your current monthly payment from the figure you've calculated. That'll give you the extra amount you need to pay.
Thanks.