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Business, 27.09.2021 01:20 opreston

John borrowed 100 000 from a bank 4 years ago. The annual interest rate is 6% and the repayment schedule is based on monthly annuity payments. There is still 6 years to fully repay the debt. Now John approached the competitive bank and asked for possibilities to refinance. The bank was sympathetic to the request and offered 4% as an interest rate. However, the refinancing fee is 1.5% of the loan balance.

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John borrowed 100 000 from a bank 4 years ago. The annual interest rate is 6% and the repayment sche...
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