Fast pls solve this question correctly in 5 min pls I will give u like for Svtrik Dave currently makes monthly payments towards a 22-year mortgage of $260000 with an interest rate of 14.4% compounded monthly. After making the 69th payment, Dave refinanced his mortgage at an interest rate of 8.4% compounded monthly. If he still makes the same monthly payments, how many number of payments of full payments are required to pay of the remainder of the loan? How large will Dave's final drop payment be?

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Cost of Credit

The cost of credit is an extra amount that the borrower has to pay besides the loan amount. These credit charges may vary from loan to loan. The cost of credit includes interest charges, maintenance charges, and arrangement charges. Some of the costs are mandatorily collected by the lender based on the loan amount and tenure of the loan. The cost of credit is also called finance charges of the credit.