Question

Anthony and Carl each have a loan for $8100. They each have a loan term of 6 years. The interest rate on Anthony’s loan is 3% and the interest rate on Carl’s loan 5%. Anthony’s monthly payment is $123 and Carl’s monthly payment is $130, how much more in interest will Carl pay than Anthony?
A.
$123

B.
$130

C.
$504

D.
$756

Answer 1

The answer is C - $504