Mathematics, 14.11.2020 09:00 naguil1210

Lacy graduated from college with $37,500 in student loans and is looking to refinance. The current interest rate is 4% for a 10 year loan or 6% for a 20 year loan. Loan A (10 years) results in monthly payments of $379.67.

Loan B (20 years) results in monthly payments of $268.66.

What would be his total payback amount for each loan?

Answers: 2

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