Problema Solution
This year (10 years after you took the loan), you check your loan balance. Only part of your payments have been going to pay down the loan; the rest has been going towards interest. You see that you still have $110,533 left to pay your loan.How much of the loan balance have you paid off?
Answer provided by our tutors
It is not going to be possible to answer this without some information regarding the terms of the loan. The amount previously paid depends on the interest rate and the monthly payments.