erick2387 erick2387
  • 08-03-2019
  • Mathematics
contestada

Barry took out a 20-year loan for $55,000 at an APR of 6.8%, compounded monthly, and he is making monthly payments of $419.84. Assuming that his balance is $31,019.97 with 8 years left on the loan, how much would he save by paying off the loan 8 years early?

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itzelcoutino19 itzelcoutino19
  • 20-01-2020

Answer: $9284.67 APEX

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