Financial Project

Financial Project

Part 1

With my present loan, the additional money I would required for adding to my payments per month for paying off my loan on twenty years than in twenty five years will be calculate in this part. In addition, it will be illustrated whether it is reasonable or not to do this when I presently meet my monthly expenses with less than $ 100 left over.

Strategy to Solve the Problem

As the current outstanding balance is provided, the strategy is that I will simply use the annuity formula to come up with payment in 20 years, given that i ...