You purchase a car using a 20,000 loan with a 5% interest rate suppose you pay the loan off after 4 years how much interest do you pay on your loan suppose you pay the loan off after 2 years how much interest

asked Mar 17, 2018 50.9k views

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4 votes

In 4 years you pay interest of 4000 and if you finish pay the loan in two years you pay only 2000

Roberto Aloi answered Mar 21, 2018

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