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2. Christine owes $23,000 in student loans and has a minimum payment of $230 per month. She decides to make an
additional $100 payment towards the loan principal every month. What impact will the additional payment have?
The additional payment will decrease the total cost of her loan
The additional payment will decrease the interestcate charged on her loan
The additional payment will increase the total cost of her loan
The additional payment will increase the time it takes to repay her loan
Financial Matemáticas



Answer :

The additional $100 payment would decrease the interest charged on her loan since she will end up finish repaying the loan sooner.

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