ksi9ePokkeisa ksi9ePokkeisa

29-03-2016
English

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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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BMdNasim BMdNasim

29-03-2016

answer is 300$.. though I actually couldn't corelate the 3% and the 4% interest rates with the answer

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