Suppose a homeowner started out with a mortgage in the amount of $225,000, repayable over a...

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Suppose a homeowner started out with a mortgage in the amount of$225,000, repayable over a 30 year period, making payments at aninterest rate of 4.5% APR, compounded monthly. After making 60payments, the homeowner received a substantial bonus from heremployer, allowing her to make a $50,000 principal reduction on themortgage loan. If she continues to make the same payment, byapproximately how many years will this one time payment reduce theamount of time it takes to pay off this loan?
A. approximately 7 years shorter
B. approximately 8 years shorter
C. approximately 9 years shorter
D. approximately 10 years shorter

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Suppose a homeowner started out with a mortgage in the amount of$225,000, repayable over a 30 year period, making payments at aninterest rate of 4.5% APR, compounded monthly. After making 60payments, the homeowner received a substantial bonus from heremployer, allowing her to make a $50,000 principal reduction on themortgage loan. If she continues to make the same payment, byapproximately how many years will this one time payment reduce theamount of time it takes to pay off this loan?A. approximately 7 years shorterB. approximately 8 years shorterC. approximately 9 years shorterD. approximately 10 years shorter