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en years ago you took out a $ 2 0 0 , 0 0 0 loan. The details of the loan called for uniform payments
en years ago you took out a $ loan. The details of the loan called for uniform payments to occur every
month for fifteen years. The first payment occurred one month after receiving the loan. Interest rates have
dropped significantly, and you have decided to refinance the loan for the remaining loan period. If the original loan
interest rate was compounded monthly and the refinance rate is compounded monthly, the most you are
willing to pay in refinance charges is closest toAssume the refinance occurs immediately after the final payment
of the tenth year.
a $
b $
c $
d $
e $
f $
g $
The correct answer is f
i need you to show me how to get there
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