Mathematics, 03.12.2020 20:10 SavannahP04
Use the following chart to explain how the loan repayment period affects the total cost
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: 3
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Use the following chart to explain how the loan repayment period affects the total cost
the loan.
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