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race borrows $135,000 at a yearly simple interest rate of 4.5%. How much less would she pay if she pays the loan off in 15 years rather than in 30 years?

Respuesta :

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Answer:

$226,125

Step-by-step explanation:

the annual percentage rate is $6,075 (135,000×.045)

multiply $6,075 for 15 years = $91,125

add $135,000 (amount borrowed) and $91,125 (amount of interest) = $226,125

Answer:

Step-by-step explanation:

$226,125

Step-by-step explanation:

the annual percentage rate is $6,075 (135,000×.045)

multiply $6,075 for 15 years = $91,125

add $135,000 (amount borrowed) and $91,125 (amount of interest) = $226,125