Advanced Placement (AP), 12.01.2021 21:00 orlando19882000

Use the following chart to explain how the amount of principal affects the total cost of the loan. Loan Repayment Period Loan 1 Loan 2 Principal $5,000 $6,000 Interest Rate 6.47 percent 6.47 percent Monthly Payment $98 $117 Loan Repayment Period five years five years Total cost of the loan $5,866 $7,039

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