$2000 loan How much interest do you end up paying if you make 45.214 payments of...
$2000 loan
How much interest do you end up paying if you make 45.214 payments of $60?
How much interest do you end up paying if you make 23.6285 payments of $100 instead?
Homework Answers
Loan = 2000
For 45.214 payment of $60 each,
Total payment = 45.214*60 = $2712.84
Interest payment = $2712.84-2000 = $712.84
For 23.6585 payments of 100 each
Total payment = 23.6585*100 = $2365.85
Interest payment = $2365.85-2000 = $365.85
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