Remainder of the loan, "A long term debt of 2,151,000

Remainder of the loan

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Reference no: EM13126132

"A long term debt of 2,151,000 represents the remaining balance on a 30 year old loan taken out 20 years ago at 11 % which options to refinance every ten years. If we refinance for the remaining 10 years at 7% how much interest expense will we save over the remainder of the loan?"

Reference no: EM13126132

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