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What Is The Impact Of Making Extra Payments On My Debt?

Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments.

Loan Information
Original loan balance  
Annual percentage rate: (%)  
Initial term in months: (30yrs=360)  
Number of payments already made  
Proposed additional monthly payment  
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