Question: A borrows $ 4 0 0 0 0 for 1 0 years and repays the loan with level annual payments at the end of each
A borrows $ for years and repays the loan with level annual payments at the end of each year. also borrows $ for years.
but pays only interest as it is due each year and plans to repay the entire loan at the end of the year period. Both Loans carry an effective interest rate of How
much more interest will pay than A pays over the life of the loan?
Note: Please round s yearly payment to the nearest cent first, then use it to calculate the interest paid by
ANSWER $
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