Belovedgirl7272 Belovedgirl7272

20-12-2022
Mathematics

Answered

Demarcus and Lauren each take out a $90,000 loan for a new condo. Each has to repay the loan in 10 years. Demarcus will pay an interest rate of 2. 8% per year. His monthly payments will be $771. Because Lauren has a lower credit score, she will have to pay an interest rate of 3. 7% per year. Her monthly payments will be $840. How much more will a $90,000 loan cost Lauren than Demarcus?

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