Question: Tyler is considering two different loan option for a $ 1 5 , 0 0 0 . He will be making monthly payments on the

Tyler is considering two different loan option for a $15,000. He will be making monthly payments on the loan.
Bank of America is offering a 2 year loan with an annual interest rate of 14%
Wells Fargo is offering a 5 year loan with an annual interest rate of 6%
Calculate the absolute difference between the total in interest paid on both loans.
Explain your reasoning or computations, and round your final answer to the nearest cent.

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