Question: Olivia recently bought a house for $325,000 using a 15 year home loan with 6.25% interest rate. She used 20% of the amount towards the

Olivia recently bought a house for $325,000 using a 15 year home loan with 6.25% interest rate. She used 20% of the amount towards the downpayment and took loan for the balance amount. How many months sooner she can payoff the entire loan if she decides to make an additional payment of $100 every month?

approx. 21 months

approx. 3 months

approx. 10 months

approx. 13 months

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