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You currently have two loans outstanding: a car loan and a student loan. The car loan requires that you pay $443 per month, starting next month for 25 more months. Your student loan is requires that you pay $113 per month, starting next month for the next 74 months.

A debt consolidation company gives you the following offer: It will pay off the balances of your two loans today and then charge you $457 per month for the next 44 months, starting next month. If your investments earn 4.50% APR, compounded monthly, how much would you save or lose by taking the debt consolidation company's offer? If you lose, state your answer with a negative sign (e.g., -25,126)

Reference no: EM132641935

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