Another company is offering a student loan refinancing plan that claims will save you thousands over...
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Another company is offering a student loan refinancing plan that claims will save you thousands over the cost of the loan. Assume that the total amount of loans is $40,000. The options are: a minimum interest rate of 2.75% or a 2.2% interest rate if you maintain a balance of $7500. in one of their savings accounts. Which option is better? Why? Another company is offering a student loan refinancing plan that claims will save you thousands over the cost of the loan. Assume that the total amount of loans is $40,000. The options are: a minimum interest rate of 2.75% or a 2.2% interest rate if you maintain a balance of $7500. in one of their savings accounts. Which option is better? Why?
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Answer rating: 100% (QA)
To determine which option is better lets compare the total cost of the loan under each scenario Well ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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