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Rose took out a 16-year loan for $43,000 at an APR of 4.1%, compounded monthly, while Yolanda took out a 16-year loan for $83,000 at an APR of 4.1%, compounded monthly. Who would save more by paying off
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5 votes
Rose took out a 16-year loan for $43,000 at an APR of 4.1%, compounded

monthly, while Yolanda took out a 16-year loan for $83,000 at an APR of 4.1%,
compounded monthly. Who would save more by paying off her loan 7 years
early?

User Vladimir Mezentsev
by
8.3k points

2 Answers

7 votes

ANSWER: Yolanda would save more, since she has $40,000 more in principal. APEX

User David Rinck
by
8.6k points
6 votes

Answer: Yolanda would save more, since she has 40,000 more in principle

Explanation:

User Stian
by
8.4k points
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