Compound Interest Maths - repost 2

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over 10 years ago

$10-18 USD

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1. You originally borrowed $180,000 for 30 years at 9.6% comounded monthly. You have made payments for 7 years. The annual interest rates drop to 6.6. If you refinance for 30 years, what will your new monthly payments be, and how much money will you save? Note: Closing costs are $3,000 2. If you decide to take out the new loan and make the same payment as you did for the old loan, will you save money over the life of the loan? If so, How much? Need completed in next 4 hours.

Mathematics

Project ID: 5202660

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@usamarizvi

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@sachitjani81

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@pushpakumar1986

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@DADO4843

I am the author of a question and answer book in mathematics containing sample questions and answers including derivation of applicable formulas in the fields of mensuration, algebra, geometry, analytic geometry, differential and integral calculus, differential equations and accounting. I can give you a complete derivation of the formulas involved and definite answers to the questions.

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@Ramawickrama2011

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@talhanust

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