rosaliastan776 rosaliastan776

15-09-2022
Mathematics

contestada

Question
Consider the following two loans for Po = $15,000.
• Loan A: 5 year loan, annual interest rate of 8%, monthly repayments of $304.15.
Loan B: 3 year loan, annual interest rate of 11%, monthly repayments of $491.08.

Calculate the absolute difference between the total interest paid on both loans. Give your answer to the nearest ten dollars.
Do not include the dollar sign in your answer

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