You have a 25-year,$225,000 mortgage at 5.5 percent interest.What is the amount of your mortgage prepayment if you pay $1,650 as your second mortgage payment? Assume your first payment was the agreed upon amount.

Name: You have a 25-year,$225,000 mortgage at 5.5 percent interest.What is the amount of your mortgage prepayment if you pay $1,650 as your second mortgage payment? Assume your first payment was the agreed upon amount.
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Quizplus · Accepted Answer

Mortgage prepayment = $1,650 - $1,381.70 = $268.30

You Have a 25-Year,$225,000 Mortgage at 5