You are going to borrow 440000 for a term number of years, Ask an Expert

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You are going to borrow $440,000 for a term (number of years) corresponding to your age at a 5.50% interest rate. Calculate the following:

a) The monthly payment

b) The total out-of-pocket cash you will spend to completely pay off the loan

c) How much you would save if you went with a loan for half that time at a 3.75% rate?

Explain comprehensively and show all workings.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147086

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