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loan payments
hi I need some help please. I am trying to figure out how much interest I
save if I pay off a loan early. for example I have a loan for 125,000. interest is 6.5% for 5 years. I know how much interest I will pay in the first year which is 6,767.40. What is the formula if I pay this off in 1 year, 2 years, 3 years, or 4 years? Thank you! SC |
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