how much money will a borrower using loan 2 p...
how much money will a borrower using loan 2 pay in interest over the life of the loan? loan 1 loan 2 principal $2500.00 $2500.00 monthly payment $50.00 $80.00 duration 60 months 36 months
Answer
# Explanation:
## Step1: Calculate total payments
Multiply monthly - payment by duration.
$80\times36 = 2880$
## Step2: Calculate interest
Subtract principal from total payments.
$2880 - 2500=380$
# Answer:
$380$