Calculate absolute difference between total interest paid

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Reference no: EM133909399

Problem

Consider the following two loans for P = $ 2 , 500 . Loan A: 3 -year loan, annual interest rate of 15 % , monthly repayments of $ 86.66 . Loan B: 5 -year loan, annual interest rate of 10 % , monthly repayments of $ 53.12. Get the instant assignment help. Calculate the absolute difference between the total interest paid on both loans.

Reference no: EM133909399

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