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Drupady [299]
2 years ago
15

Lucy Garcia took out a loan for $40,000 at 10 percent interest for 10 years. Her monthly payments are $528.60. She made payments

for one year and has paid the principal down to $37,546.36. She now wants to repay the loan early. The loan specifies a $300 prepayment penalty if she pays the loan now. How much will she save by paying the loan early (round final answer to nearest dollar)?
Business
1 answer:
8090 [49]2 years ago
3 0

Answer:

<em><u>below</u></em>

Explanation:

<em><u>•$37,546.36. She now wants to repay the loan early. The loan specifies a $300 prepayment penalty if she pays the loan now. How much will she save by paying the loan early (round</u></em>

<em><u>•$37,546.36. She now wants to repay the loan early. The loan specifies a $300 prepayment penalty if she pays the loan now. How much will she save by paying the loan early (roundfinal answer to nearest dollar)?•</u></em>

<em><u>I </u></em><em><u>hope </u></em><em><u>it </u></em><em><u>helps </u></em><em><u>^</u></em><em><u>-</u></em><em><u>^</u></em>

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