Question

If you make monthly payments of $630 for 6 years, determine the total payment over the lifetime of the loan.​

Answer 1

$45,360

630x12= $7560
$7560x6= $45,360

Answer 2

$45,360

Explanation:

630 a month= 650×12=7560

$7560 a year × 6 years = $45,360