IJohnson Company purchased a building for $200,000 at a 5% annual interest rate with 20 years...

IJohnson Company purchased a building for $200,000 at a 5% annual interest rate with 20 years to maturity. They decided to pay an additional 2,400 a year toward the principle. How many years will it take to pay off the loan? Do not round intermediate calculations. Round your final answer to 2 decimal places.

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The Johnson Company purchased a building for $200,000 at an interest rate of 5% for 20...

The Johnson Company purchased a building for $200,000 at an interest rate of 5% for 20 years. If they decided to pay $,2400 additional a year toward the borrowed principle, while everything else remained constant, how many years from today can they pay off the mortgage

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