A small business refits its store. The builders charge them $125 000, which will be paid back in monthly instalments over three years at 6% APR. The builders will reduce this rate to 5.5% APR if they pay $2 500 up front. By approximately how much will this reduce the monthly loan repayments?
A)$104
B)$214
C)$28
D)$77

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The Answer of A small business refits its store. The builders charge them $125 000, which will be paid back in monthly instalments over three years at 6% APR. The builders will reduce this rate to 5.5% APR if they pay $2 500 up front. By approximately how much will this reduce the monthly loan repayments?
A)$104
B)$214
C)$28
D)$77

A Small Business Refits Its Store