Question 10 • 26-27 Ignite Technical Math-Financial Math - MA2007
A four-year loan has 4 × 12 = 48 monthly payments. Zoe pays $819.20 − $440.82 = $378.38 more each month because of the higher rate, so the extra amount paid over the loan is $378.38 × 48 = $18,162.24. Thus, the correct choice is $18,162.24.
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