Question

Guy took out a 10-year loan for $63,000 at an APR of 10.9%, compounded
monthly, while Wilber took out a 10-year loan for $78,000 at an APR of 10.9%,
compounded monthly. Who would save more by paying off his loan 8 years
early?

Answer 1

Answer: Wilber would save more, because he borrowed $15,000 more in principal.

Step-by-step explanation:

Answer 2

Answer:

Answer: Wilber would save more, because he borrowed $15,000 more in principle.

Step-by-step explanation: