English, 11.10.2020 23:01 RioQNA

< 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
$5,000
$6,000
Principal
6.47 percent 6.47 percent
Interest Rate
$98
$117
Monthly Payment
five years
Loan Repayment Period five years
$5,866
$7,039
Total cost of the loan
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