anonymous
  • anonymous
will fan+medal. XoXo <3 Josh and Michael each have a loan for $6200 with a 4% interest rate. Josh has a monthly payment of $183, and Michael has a monthly payment of $114. How much more in interest will Michael pay if his loan term is 5 years and Josh’s loan term is 3 years?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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amistre64
  • amistre64
well, how can we calculate total interest paid on a loan?
Here_to_Help15
  • Here_to_Help15
Ok so lets take this down and @amistre64 please correct me if im off track
amistre64
  • amistre64
im not sure what 'take this down' refers to. And posting non relevant content on a session is considered spam.

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Here_to_Help15
  • Here_to_Help15
As in take it down step by step -.-
amistre64
  • amistre64
that we can do the first step is knowing what we pay for when we pay off a loan ....
Here_to_Help15
  • Here_to_Help15
But nevermind looks like you can handle it after all its what your here for
amistre64
  • amistre64
consider that paying off a loan has 2 aspects to it, the original amount, and the interest. so what do the total payments add up to?

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