Assume you have a student loan that you will pay off in 10 years. How much will you save in interest if you refinance at the new rate? Use the accompanying table of monthly payments on a $ 1,000

Assume you have a student loan that you will pay oft in 10 years. How much will you save in interest if you refinance at the new tale? Use the accompanying table of monthly payments on a $1,000 loan. Amount of Loan $26.000 Original Rate 10% New Rate 6% Click the icon to view a table of monthly payments on a $1,000 loan The total savings in interest will be $ (Round to the nearest com as needed) - X Monthly Payment on a $1,000 loan Annual Interest Rate 4% 5% 6% 8% 10% 12% 3 $29.53 29.97 30.42 31.34 32.27 33.21 Number of Years for the Loan 10 20 $22.58 $10.12 $6.06 23.03 10.61 6.60 23.49 11.10 7.16 24.41 12.13 8.36 25.36 13.22 9.65 26.33 14.35 11.01 30 $4.77 5.37 6.00 7.34 8.78 10.29 Print Done Assume you have a student loan that you will pay off in 10 years. Amount of Loan $26,000 Original Rate 10% New Rate 6% = Click the icon to view a table of monthly payments on a $1.00