Question: A borrower takes ost a $ 3 0 0 , 0 0 0 loan for 3 0 years with an interest rate of 3 .
A borrower takes ost a $ loan for years with an interest rate of annually. Aher years of making regolar monthly payments, the borrower decides to pay off the remaining loan balunoe in one lump sum. How much does the borrower still owe after years? How much intereit would have been paid if the loan had continued to maturity? How much interest was saved by paying off the loan early?A borrower tahes oet a $ lown for ytan the minferest rate of annaally. After years pait if the loan had cootinued to mahurity? Heo moch intonet was novod lay paying off the loan carly?
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