12. Lori wants to borrow $12,000 to remodel her living room
Monthly Payment
Loan Term
(...
Mathematics, 27.05.2021 20:20 mary9664
12. Lori wants to borrow $12,000 to remodel her living room
Monthly Payment
Loan Term
(Months)
36
Loan Amount: $12,000
Annual Interest
Rate
6.25%
6.25%
$366.42
$283.20
48
60
6.25%
$233.39
According to the information in the table, how much more would she pay
during the first year of the loan if she chose a 48-month term instead of a
60-month term?
Answers: 1
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