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: $380$