F:V
e) You decide to send an extra $200 per month to pay o the loan earlier. When will the loan be paid o now? f) By sending an extra $200 per month, what will be your total interest paid? Answer: a) With P= 150;000 and i= :08=12 and n= 15 12 = 180, A= Pi(1 + i)n (1 + i)n 1 = 1433:48 to the nearest penny. b) After n payments, the amount owed is P(1 ... ................
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