Your company has an existing loan with monthly payments


Question: Your company has an existing loan with monthly payments, principal, and interest of $1,883.65. There are 48 payments left on the loan and the loan has an unpaid balance of $74,269.00. Your company is looking at the possibility of replacing this loan with a loan that has estimated closing costs of $1,900.00. At what interest rate would this become attractive?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Your company has an existing loan with monthly payments
Reference No:- TGS02313658

Expected delivery within 24 Hours