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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someone help me please!

how do we calculate total interest paid on a loan?

or, how would you describe what we pay for, when we buy a loan .... what are we paying off?

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