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Compound interest while accounting for monthly withdrawals
Compound interest while accounting for monthly withdrawals I'm trying to determine if it makes financial sense to pay off my auto loan or to try and beat it with savings interest. I know there are calculators but I wanted to try it by hand. Here are the figures:
Current principal: $15,000 (let's assume this is the exact payoff amount)
Loan interest rate: 5.69%
Loan monthly payment amount: $420.69
M...
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