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MAT 104 Algebra with Applications

A course on algebra with applications, focusing on practical problems and solutions.

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MAT 104 Algebra with Applications

Page 1

MAT 104 Algebra with Applications Using the loan balance of $125,911.86 at a 5.6% interest rate for 20 years, calculate the monthly payment. Compare this payment to your current monthly payment to assess whether refinancing would reduce costs. Also, analyze the impact of refinancing the loan over 25 years at a reduced interest rate, considering the new monthly payments. Based on your calculations, recommend the best option: refinancing or continuing with the current loan terms. Word Count Requirement: 250 - 300 words

Page 2

MAT 104 Algebra with Applications Using the loan balance of $125,911.86 at a 5.6% interest rate for 20 years, calculate the monthly payment. Compare this payment to your current monthly payment to assess whether refinancing would reduce costs. Also, analyze the impact of refinancing the loan over 25 years at a reduced interest rate, considering the new monthly payments. Based on your calculations, recommend the best option: refinancing or continuing with the current loan terms. Word Count Requirement: 250 - 300 words

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University
Pace University
Subject
Mathematics

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