How long will it take to pay off my loan, AND how much interest will I have paid for the duration?
I took out a loan for 24,500 at 8.5 interest to be repaid over 60 months. My payment is approx. $490/mo.
8 months out of the year I intend on paying an additional $400/ month.
Working on this assumption, when will the loan be repaid in full and how much interest will I have paid. [...]