Melanie took out a 20-year loan for $50,000 at an apr of 3.3%, compounded

monthly. approximately how much would she save if she paid it off 6 years

early?

She would save $17,340.10.

Step-by-step explanation:

We will use formula :

A = Future amount

P = Principal amount

r = =   = 0.00275

t = 20 years ( 240 months )

  = 50,000(1.00275)²⁴⁰

  = 50,000 × 1.93304052

  = $96,652.026 ≈ $96,652.03

If she paid it off 6 years early ( after 14 years ).

 = 50,000 × 1.58623917

 = 79,311.9585 ≈ $79,311.96

She would save by paying off 6 years early = 96,652.03 - 79,311.96

                                                                        = $17,340.07 ≈ 17,340.10

She would save $17,340.10.

answer: it's d

step-by-step explanation: