Two Customers took out car loans from a bank.



Marcus took out a 5-year loan for $10,000 and paid 4.7% annual simple interest.

Gianna took out a 6-year loan for $10,000 and paid 4.5% annual simple interest.

What is the difference between the amounts of interest Marcus and Gianna paid for their car loans?
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Respuesta :

10,000(1+(0.047*5))=12350
Marcus-12350

10,000(1+(0.045*6))=12,700
Gianna-12,700

12,700-12,350=$350 difference