It appears that by paying an extra $0 per month, you could save $-0 in interest ($2,589 vs. $2,589), and own the asset 0.0 years sooner than under your current schedule (3.9 years vs. 3.9 years). <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Cumulative Interest' xAxisName='Year' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='E6E3CF' palette='2' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='1' /><category label='2' /><category label='3' /></categories><dataset seriesName='Current'><set value='1118.0' /><set value='1934.0' /><set value='2430.0' /><set value='2589.0' /></dataset><dataset seriesName='Proposed'><set value='1118.0' /><set value='1934.0' /><set value='2430.0' /><set value='2589.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Year</th><th scope="col">Beginning Balance</th><th scope="col">Interest @ 5.22%</th><th scope="col">Proposed Payment</th><th scope="col">Ending Balance</th></tr><tr><td role="rowheader" scope="row">1</td><td>$24,000</td><td>$1,118</td><td>$6,789</td><td>$18,330</td></tr><tr><td role="rowheader" scope="row">2</td><td>18,330</td><td>815</td><td>6,789</td><td>12,356</td></tr><tr><td role="rowheader" scope="row">3</td><td>12,356</td><td>496</td><td>6,789</td><td>6,064</td></tr><tr><td role="rowheader" scope="row">4</td><td>6,064</td><td>159</td><td>6,223</td><td>0</td></tr><tr><td role="rowheader" scope="row">5</td><td>0</td><td>0</td><td>0</td><td>0</td></tr></table>