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Question 5. Suppose that Braviary has $30,000 remaining on a student loan with an amal interest rate of 13%. Braviary wishes to pay off the
Question 5. Suppose that Braviary has $30,000 remaining on a student loan with an amal interest rate of 13%. Braviary wishes to pay off the loan in 13 years. Assume that Braviary can refinance the loan 5%. (a) What are Braviary monthly payments on the original loan? (b) How much will Braviary's new monthly payments be? (c) How much interest will Braviary save over the 13 years? (d) Test several interest rate's between 1% and 5% such that $28,206,98 will be saved over the 13 years
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