If you have a loan of 140,000 at 9% per annum interest over 20 years and you have a monthly repayment for the loan of 2260.65 per month. But after 6 years you increase how much you pay to 1500. You can pay off that loan in the following 131 months. How much is saved by increasing the payments?

If you have a loan of 140,000 at 9% per annum interest over 20 years and you have a monthly repayment for the loan of 2260.65 per month. But after 6 years you increase how much you pay to 1500. You can pay off that loan in the following 131 months. How much is saved by increasing the payments?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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