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3 years ago

12

Aphrodite took out a 30-year loan from her bank for $170,000 at an APR of 7.2%, compounded monthly. If her bank charges a prepay

ment fee of 6 months' interest on 80% of the balance, what prepayment fee would Aphrodite be charged for paying off her loan 12 years early?

1 answer:

lora16 [44]3 years ago

7 0

It's 3246.74 --- APEX

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The given equation is:

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