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You have taken out a 84 -month $90,000 loan to cover the remaining cost of a new header for your combine at an interest rate

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You have taken out a 84 -month $90,000 loan to cover the remaining cost of a new header for your combine at an interest rate of 11%. After 24 monthly payments have been made your credit has impecved and a refinance opportunity is avalable. There is $15,000 left on the loan and a new fixed interest rate of 6.1% is guaranteed upon refinanoing. Which factors need to bo considered when fefinancing a loan this loan? Explain. For the toolbur, press ALT+F10 (PC) or ALT+FN+F10 (MaC)

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