What would the new term equal if the lender allowed the


A firm has a mortgage loan for $150,000 at an APR rate of 5%. The term of the loan is 15 years and the payments equal $14,451. Cash flow problems from reduced farm income leaves the firm only able to pay $10,000 on this loan. What would the new term equal if the lender allowed the borrower to repay over a longer term?

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