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anonymous

  • one year ago

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?

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  1. amistre64
    • one year ago
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    well, how can we calculate total interest paid on a loan?

  2. Here_to_Help15
    • one year ago
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    Ok so lets take this down and @amistre64 please correct me if im off track

  3. amistre64
    • one year ago
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    im not sure what 'take this down' refers to. And posting non relevant content on a session is considered spam.

  4. Here_to_Help15
    • one year ago
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    As in take it down step by step -.-

  5. amistre64
    • one year ago
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    that we can do the first step is knowing what we pay for when we pay off a loan ....

  6. Here_to_Help15
    • one year ago
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    But nevermind looks like you can handle it after all its what your here for

  7. amistre64
    • one year ago
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    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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