It appears that by paying an extra $1,500 per month, you could save $97,914 in interest ($142,887 vs. $44,973), and own the asset 13 years sooner than under your current schedule (19.9 years vs. 6.9 years).Mind boggling, isn't it? If you could rewind time, 5, 10, or even 15 years, what would you do to have another $100,000 or more in your pocket? Behold, the power of fast paying loans. Remember what Einstein said about compound interest
Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.