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OpenStudy (anonymous):
Mark and Jill each have a $6500 loan with a loan term of 4 years. The interest rate on Mark’s loan is 3% and the interest rate on Jill’s loan is 4%. Mark’s monthly payment is $144 and Jill’s monthly payment is $147. How much more in interest will Jill pay than Mark?
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OpenStudy (tkhunny):
How much will Mark and Jill pay in total?
OpenStudy (anonymous):
I =PRT (interest= Principle x Rate x Time)
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