Business, 26.02.2020 16:35, hillarytrinh

I borrow $85,000 at an interest rate of 8% APR compounded continuously with monthly payments of $1,000. Three years from now I re-finance the remaining balance at 6% APR compounded quarterly with the same monthly payments. How long would it take from the original loan date (months) to pay the loan down to a balance of $10,000?

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I borrow $85,000 at an interest rate of 8% APR compounded continuously with monthly payments of $1,0...