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The balance for the original and new loans are given in the example, but I don't know how to calculate it. I have tried using
The balance for the original and new loans are given in the example, but I don't know how to calculate it.
I have tried using the NPV buttons, and the AMORT function on my calculator but am not getting the correct answer.
Based on my calculations, the balance on the old loan after 4yrs is $254,757 rather than $254,743 as noted in the manual.
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