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HELP PLEASE Raymond took out a 25-year loan from his bank for $135,000 at an APR of 3.6%, compounded monthly. If his bank charges a prepayment fee of 6 months' interest on 80% of the balance, what prepayment fee would Raymond be charged for paying off his loan 5 years early?

liam , 7 Years ago
Grade 12
anser 1 Answers
Saurabh Koranglekar

Last Activity: 4 Years ago

Dear student

Please find the link below to similar examples below

https://www.askiitians.com/rd-sharma-solutions/class-8/chapter-14-compound-interest/

Regards

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