Jamie and Adam each have a $12,000 loan with a 5-year term. Adam’s interest rate is 3%, and Jamie’s interest rate is 4%. Adam’s monthly payment is $216. Jaime’s monthly payment is $221. How much more in

Jamie and Adam each have a $12,000 loan with a 5-year term. Adam’s interest rate is 3%, and Jamie’s interest rate is 4%.

Adam’s monthly payment is $216. Jaime’s monthly payment is $221.
How much more in interest will Jamie pay?
a. $300
b. $960
c. $1260
d. $12,960

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