He finally decides to borrow 50,000 euros on top of his existing loan. It is also agreed that the interest rate will not change and that the remaining maturity remains 15 years for both loans. They agree that he will pay 1,400 euros as a monthly installment which is always paid at the end of the month in those 15 years. 

How much will he have pay to the bank to pay off both loans

Answer rating: 100% (QA)

To calculate the total amount that needs to be paid to the bank to pay off both loans we need to con... View the full answer