SOLUTION: Hi. im trying to pay off my house in lesser time. i bought the house in the year 2004 paying 400.00 a mth for 20 years interest rate 8%. i have twelve years to go but i want to fi

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Question 669111: Hi. im trying to pay off my house in lesser time. i bought the house in the year 2004 paying 400.00 a mth for 20 years interest rate 8%. i have twelve years to go but i want to finish sooner. how much would i have to pay each mth to pay off in 5 years or the most 6years.
Answer by MathTherapy(10551) About Me  (Show Source):
You can put this solution on YOUR website!

Hi. im trying to pay off my house in lesser time. i bought the house in the year 2004 paying 400.00 a mth for 20 years interest rate 8%. i have twelve years to go but i want to finish sooner. how much would i have to pay each mth to pay off in 5 years or the most 6years.

Don't you think that it's imperative that one knows what balance you have on this house? Isn't that how one would be able to tell you how to pay off THAT AMOUNT in 5 or 6 years?