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## If You Know the Remaining Loan Term

Use this calculator if the term length of the remaining loan is known and there is information on the original loan – good for new loans or preexisting loans that have never been supplemented with any external payments.

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## Payoff in 15 years and 8 months

The remaining balance is $279,163.07. By paying extra $500.00 per month, the loan will be paid off in 15 years and 8 months. It is **9 years and 4 months earlier**. This results in savings of **$108,886.04** in interest.

**If Pay Extra $500.00 per month**

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**The Original Payoff Schedule**

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