After making 72 monthly payments on a 25-year $240 000 reducible loan at 6.80 per cent, the amount still owed to the bank is $120 064.56 ).

Question

Quizplus · Accepted Answer

A 25-year loan with 72 monthly payments would have 18 years left, not halfway through its term. The amount still owed would likely be more than half the original loan amount due to how interest accumulates over time, especially at a rate of 6.80%.

After Making 72 Monthly Payments on a 25-Year $240 000