Math104, financial Project. Five years ago , you bought a house for $171,000, with a down, Algebra

Math104, Algebra

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financial Project.
Five years ago , you bought a house for $171,000, with a down payment of $30,000, which meant you took out a loan for $141,000.Your interest rate was 5.75% fixed,you would like to pay more on your loan. you checked your bank statement and find the following; Escrow-$261.13, Principle and Interest payment-$822.84,Total payment-$1,083.97,Current Loan Balance-$130,794.68. With your current loan, explain how much additional money you would need to add to your monthly payment to pay off your loan in 20 years instead of 25.

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Math104, Algebra

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