Remainder of the loan


Our long-term debt represents the remaining balance on a 30-year loan taken out in 1991 at 13 percent with options to refinance every 10 years. If we refinance for the remaining 10 years at 7 percent, how much interest expense will we save over the remainder of the loan?

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Accounting Basics: Remainder of the loan
Reference No:- TGS067255

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