[Answered] What is the value in paying off a loan early?[br][br][b][color=#7BCCB5]Question ...

This topic contains a solution. Click here to go to the answer

« previous next »

Author Question: What is the value in paying off a loan early?[br][br][b][color=#7BCCB5]Question ... (Read 32 times)

Caiter2013

Hero Member
Posts: 607

on: Jun 24, 2018

What is the value in paying off a loan early?

Question 2

Explain how to calculate the daily interest factor.

Need homework help now?

Ask unlimited questions for free

Ask a Question

Marked as best answer by a Subject Expert

mk6555

Sr. Member
Posts: 310

Reply #1 on: Jun 24, 2018

Answer to Question 1

Less interest will be paid on the loan.

Answer to Question 2

Calculate the daily interest factor by multiplying the principal by the rate of interest divided by the number of days in the year.

Caiter2013

Member
Posts: 607

Reply 2 on: Jun 24, 2018

Thanks for the timely response, appreciate it

carojassy25

Member
Posts: 299

Reply 3 on: Yesterday

Excellent

« previous next »

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Asthma occurs in one in 11 children and in one in 12 adults. African Americans and Latinos have a higher risk for developing asthma than other groups.

Did you know?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.