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Roy took out a 30-year loan for $155,000 at an APR of 5.5%, compounded monthly. Approximately what would be the total cost of his loan if he paid it off 4 years early? O A. $37,842.06 O B. $312,423.90
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2 votes
Roy took out a 30-year loan for $155,000 at an APR of 5.5%, compounded

monthly. Approximately what would be the total cost of his loan if he paid it

off 4 years early?

O

A. $37,842.06

O

B. $312,423.90

O

C. $316,825.20

O

D. $274,581.84

User Granitosaurus
by
2.8k points

2 Answers

2 votes

Answer:

312,423.90

Explanation:

Correct is b

User Jecho Jekov
by
3.2k points
4 votes

Answer:

$312,423.90

Explanation:

User Metraon
by
3.6k points
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