If we refinance for the remaining 10 years at 7 how much, Ask an Expert

Accounting

A long term debt of 2,151,000 represents the remaining balance on a 30 year old loan taken out 20 years ago at 11 % which options to refinance every ten years. If we refinance for the remaining 10 years at 7% how much interest expense will we save over the remainder of the loan?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9406394

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