The total amount left to pay is $ 745,945.74.
Supposing you took out a $ 120,000 loan to go to med school. Your loan has a 6.9% APR to be paid in 30 years, and you make monthly payments of $ 790.32, and to date, you have made 180 payments, to determine what is the total amount you have left to pay if you simply make payments for the next 180 months the following calculation must be performed:
- (120,000 x 1,069 ^ 30) - (790.32 x 180) = X
- (120,000 x 7.40) - 142,257.6 = X
- 888,203.34 - 142,257.6 = X
- 745,945.74 = X
Therefore, the total amount left to pay is $ 745,945.74.
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