Answer:
(20 years) Cuota = 2,600.80
Interest 249,192
(30 years) Cuota 2,152.80
Interest 400,008
<u><em>Diference:</em></u><em> 400,008 - 249,192 = 150,816</em>
30 year loan paid 150,816 more interest expense
Explanation:
(20 years)



monthly interest .056/12
time 20 years x 12 month a year = 240
Cuota = 2,600.80
<u>Interest </u>
Cuota x payment - principal = interest
240 x 2600.8 - 375,000 = 249,192
(30 years)

monthly interest .056/12
time 30 years x 12 month a year = 360
Cuota 2,152.80
<u>Interest </u>
Cuota x payment - principal = interest
360 x 2152.8 - 375,000 = 400,008