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At what interest rate would this become attractive

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Your company has an existing loan with monthly payments, principal and interest, of $1,888.59. There are 120 payments left on the loan and the loan has an unpaid balance of $155,660.00. Your company is looking at the possibility of replacing this loan with a loan that has estimated closing costs of $3,300.00. At what interest rate would this become attractive?

Reference no: EM131137847

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