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anonymous
 one year ago
Mark and Jill each have a $6500 loan with a loan term of 4 years. The interest rate on Mark’s loan is 3% and the interest rate on Jill’s loan is 4%. Mark’s monthly payment is $144 and Jill’s monthly payment is $147. How much more in interest will Jill pay than Mark?
A.
$144
B.
$412
C.
$556
D.
$968
anonymous
 one year ago
Mark and Jill each have a $6500 loan with a loan term of 4 years. The interest rate on Mark’s loan is 3% and the interest rate on Jill’s loan is 4%. Mark’s monthly payment is $144 and Jill’s monthly payment is $147. How much more in interest will Jill pay than Mark? A. $144 B. $412 C. $556 D. $968

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0someone help me please!

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1how do we calculate total interest paid on a loan?

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1or, how would you describe what we pay for, when we buy a loan .... what are we paying off?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0@amistre64 sorry i was afk. so what are we doing?

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1ideally, the total cost of a loan, is the loan amount, and the interest total cost is also just the total amount of money spent on it (sum of all payments) total payments = loan + interest  subtract the loan amount and we get: total payments  loan = interest  what is the interest paid for both people?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Oh @amistre64 i gave you a medal but i dont need help on this anymore. thanks though!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0sorry for wasting your time

amistre64
 one year ago
Best ResponseYou've already chosen the best response.1ok, good luck all the same :)
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