Lau posted a link to an amortization template and I downloaded it and have been playing with it for about 20 minutes.
If I continue at the rate I am going with making an extra principal payment of $24.14 each month I will finish the loan in 8.4 years.
If I bump it up to $74.14 extra each month, I can finish the loan in 7 years, 3 months.
If I bump it up to $124.14 extra each month, I will finish the loan in 6.5 years.
If I bump it up to $224.14 extra each month, I can finish the loan in 5 years and 2 months.
Not sure what I'll do about any of it yet but its fun to play with it and see the possibilities.
Thanks for posting the link, Lau.
Playing with the Amortization Template
January 6th, 2007 at 06:38 am
January 8th, 2007 at 05:51 pm 1168278675
January 8th, 2007 at 09:00 pm 1168290045