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You just took out a 6%, $300,000 30-year fixed-rate mortgage. (a) what is your monthly...

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You just took out a 6%, $300,000 30-year fixed-rate mortgage. (a) what is your monthly payment? (b) How long will it take before you have repaid 30% of the loan balance due? (c) How long will it take before you have repaid 60% of the loan balance due? (d) If you paid an extra $200 per month, how long would it take to repay 60% of the principal due? (e) In the case where you paid an extra $200 per month, how long would it take to repay the entire loan? 1

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