Please help with the second part of the question

Question

A couple buys a $170000 home, making a down payment of 18%. The couple finances the purchase with a 15-year mortgage at an annual rate of 2.75%.

1. Find the monthly payment.

2. If the couple decides to increase the monthly payment to $1000, find the number of payments

 

Please help with question 2

Answer 1

The loan amount is: $139,400

Monthly Payment $946.00 (using the calculator)

 

Then use the other part of the calculator and enter $1,946 as the payment.  

This gives 78.34 payments, so there would need to be 79 payments to extinguish the loan.

 

-http://www.calculator.net/payment-calculator.html