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31 May, 07:04

Jamie and Adam each have a $12,000 loan with a 5-year term. Adam's interest rate is 3%, and Jamie's interest rate is 4%.

Adam's monthly payment is $216. Jaime's monthly payment is $221.

How much more in interest will Jamie pay?

a. $300

b. $960

c. $1260

d. $12,960

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Answers (1)
  1. 31 May, 07:23
    0
    Answer is 300$ ... though I actually couldn't corelate the 3% and the 4% interest rates with the answer
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