Question 1 (1 point)
Loan 1:
Loan Amount: $ 10,000.00
Loan Term: 12 months
Interest Rate: 12%
Upfront Fees: $ 125.00
Payment: $ 888.49
What is the total amount of payments for Loan 1? $10,786.88
Blank 1:
$10,786.88
Question 2 (1 point)
Using the information from question one, what is the total cost of Loan 1? $
Blank 1:
$
this one too
Loan 2:
Loan Amount: $ 10,000.00
Loan Term: 24 months
Interest Rate: 12%
Upfront Fees: $ 125.00
Payment: $ 470.43
What is the total amount of payments for Loan 2? $5,770.16
Blank 1:
$5,770.16
Using the information from question 3, what is the total cost of Loan 2?
only answer the question that ask the total cost
