Business, 04.09.2021 01:00 cassidy100117

Use the following chart to explain how the loan repayment period affects the total cost of the loan. Loan Repayment Period
Loan 1
Loan 2
Principal
$5,000
$5,000
Interest Rate
6.47 percent
6.47 percent
Monthly Payment
$98
$57
Loan Repayment Period
5 years
10 years
Total cost of the loan
$5,866
$6,804

Answers: 1

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Use the following chart to explain how the loan repayment period affects the total cost of the loan....

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