At what interest rate would this become attractive

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Question: 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 this loan with a loan that has estimated closing costs of $1,900.00. At what interest rate would this become attractive?

Reference no: EM131518102

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