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One person bought a residence 10 years ago for 300'000 TL. 20% was paid in advance. For the remainder, a 30-year maturity mortgage loan was
One person bought a residence 10 years ago for 300'000 TL. 20% was paid in advance. For the remainder, a 30-year maturity mortgage loan was taken, with 6% operating monthly. Interest rates have fallen and the person wants to replace his loan with a low interest loan. The new interest rate is the monthly execution of 4% per year. What amount will be saved if one replaces the remaining twenty-year loan with a new one?
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