Question: How much longer will it take to pay off a $250,000 loan with monthly payments of $2,500 than with monthly payments of $2,600? The interest
How much longer will it take to pay off a $250,000 loan with monthly payments of $2,500 than with monthly payments of $2,600? The interest rate on the loan is 10.50% compounded monthly. (Do not round intermediate calculations and round up the number of payments, n, to the next whole number.) Difference year(s) and month(s).
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