Your company has an existing loan with monthly payments (principal and interest) of $1,883.65. There...
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Your company has an existing loan with monthly payments (principal and interest) of $1,883.65. There are 48 payments left on the loan and the loan has an unpaid balance of $74,269.00. Your company is looking at the possibility of replacing the loan with a loan that has estimated closing costs of $1,900.00. At what nominal interest rate would this become attractive?
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