Financial Project

Financial Project

Answer for question 1

If you took 25 years to pay off your loan the monthly payment would be $ 761.22 per month. If it took 20 years to pay off your loan the monthly payments would be $ 849.52 per month. So if you wanted to pay off the loan in 20 years you would need to raise your total monthly payment by $ 88.30 per month.

Answer for question 2

Yes you would be able to meet your monthly expenses. Again, if the monthly payment is only $ 88.30 over your normal payment and you have less than $ 100.00 ...