personal finance question

timer Asked: Aug 26th, 2015

Question Description

Aphrodite took out a 30 -year loan from her bank for $170,000 at an APR of 7.2%, compounded monthly. If her bank charges a prepayment fee of 6 months' interest on 80% of the balance, what prepayment fee would Aphrodite be charged for paying off her loan 12 years eaarly

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