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OpenStudy (anonymous):
how much money would you save by rounding your payment up to the nearest ten dollar (versus the original payment amount). Loan Amount: 94,905 Original Monthly payment: 400.12 Rounded monthly payment required for your loan at 3% compounded monthly 20 yrs: I got 526.34 (now rounded i got= 530.00) Can anyone please help me? Is there an equation to make it easier?
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