Question
A 30 year loan for $ 100,000 is made at an interest rate of 2.5% APR. The borrower decides to pay $450 per month instead
A 30 year loan for $ 100,000 is made at an interest rate of 2.5% APR. The borrower decides to pay $450 per month instead of just the minimum payment. How many years will it take for the loan to be paid off? Round off your answer to the nearest whole number.
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Financial Management In The Public Sector Tools Applications And Cases
Authors: Xiaohu Wang
3rd Edition
0765636891, 9780765636898
