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Business, 22.10.2020 21:01 royalbugg

Consider a $25,000 car loan at a 3.00% APR and a 48-month term. Over 4 years of payments,
you'll pay $1,561 in total interest on the loan. If you extend that same loan to a 60-month term
(or 5 years), you'll lower your monthly payment by $104—but you'll increase the total interest
you'll pay from $1,561 to $1,953. Which loan is better and why?

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Consider a $25,000 car loan at a 3.00% APR and a 48-month term. Over 4 years of payments,
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