Marco, for the calculation from my post above, I forget to deduct the principal you pay too. Sorry. So you can see the interest you pay I deduct from your balance, but you have to deduct the principal you pay from the balance too. Then repeat.
this is the sort of number I was looking for, assuming it's even close; if I'm paying more than 4%, from now to the end, it sounds like an easy decision for me - pay it off thanks marc
Marco, do you want to know if you keep the $55,300.00 cash to invest or trade, and not pay all the balance of your mortgage, then you can make more money from trade or invest your $55,300.00 cash compare to interest you pay for 4.75 years?
If you have "cash in the bank earning nothing"... and you don't have a higher return alternative you wish to try, then paying off the loan would be better.
for maximum flexibility pay some extra into principle when you have nothing else to do with your cash.