[deepandblue]

We purchased a home in March 2010 with a 15 year mortgage of $187,500 at an interest rate of 4.375% (after putting 20% down). If we begin paying an extra $500 a month in September 2010, and pay an extra $4000 a year beginning in January 2011, when will the house be paid off?March 2010 - Purchased homeSeptember 2010 - begin paying an extra $500 a monthJanuary 2011 - begin paying an extra $4000 a yearLoan amount: $187,500Loan length: 15 yearsInterest rate: 4.375%Anyone working on a Finance degree want to take a stab at it? And perhaps explain how you got there?