Business
Business, 22.08.2019 06:10, dkh2021

Use the following chart to explain how the interest rate affects the total cost of the loan.
loan repayment period
loan 1
loan 2
principal
$5,000 $5,000
6.47 percent 10.8 percent
interest rate
monthly payment
$98
$108
loan repayment period five years
five years
total cost of the loan
$5,866
$6,493

answer
Answers: 1

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Use the following chart to explain how the interest rate affects the total cost of the loan.
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