Question: A small business refits its store. The builders charge them $128,000 which will be paid back in monthly installments over three years at 8.7%APR. The

A small business refits its store. The builders charge them $128,000 which will be paid back in monthly installments over three years at 8.7%APR. The builders will reduce this rate to 8.2%APR if they pay $2560 up front. By approximately how much will this reduce the monthly loan repayments ?

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