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seropon [69]
3 years ago
10

Frederick took out a 20-year loan for $70,000 at an APR of 2.2%, compounded monthly. Approximately how much would he save if he

paid it off ...
Mathematics
2 answers:
Karolina [17]3 years ago
8 0

70,000 * (1+.022/12)^(12*20)

70,000 * (1.552081849 = 108,645.73


108,645.73 - 70,000 = $38,645.73 in interest in 20 years


stich3 [128]3 years ago
5 0

70,000 * (1+.022/12)^(12*20)

70,000 * (1.552081849 = 108,645.73


108,645.73 - 70,000 = $38,645.73 in interest in 20 years

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