Loan Consolidation CHAPTER6 in Detail - ed

The interest rate on a Federal Consolidation Loan is the weighted average of the interest rates of the loans being consolidated. A “weighted average” means that the interest rate on a large loan counts more in the average than the interest rate on a smaller loan. For instance, if you have $10,000 in loans at a 6% interest rate and $2,000 in ... ................
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