Extra payments apply towards principal, and since interest is amortized and computed monthly.

The impact on your loan is pretty amazing. One extra payment per year will take about 8 years off of a 30 year fixed mortgage.

See a tool like http://www.mortgagecalculator.org for examples.

Why making additional payment to mortgage counts towards principal? Why does it matter?
I'm creating some signs for the office car park, and one of these signs is to control access. What I'm trying to get it to indicate is that cars aren't permitted between 10 am and 4pm except for access.

Which of the below mean what I want to say above?


Except for access 10 am - 4 pm  
10 am - 4 pm except for access


Am I correct in thinking that the first one means "Cars allowed for access between 10 am and 4 pm only " and the second one is "No cars between 10 am and 4 pm except for access".

I realize the ambiguity of the sign, and want to make sure what I'm saying is correct.
