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You have selected a $35,000 delivery van for your business. The auto dealership is offering you two financing options. Loan #1 is a four-year loan,

You have selected a $35,000 delivery van for your business. The auto dealership is offering you two financing options. Loan #1 is a four-year loan, paid monthly, at 6.0%. Loan #2 is a five-year loan, paid monthly at 7.2% How much more interest will Loan #2 cost over the time of the loan than Loan #1? 


$1,823.16 more in interest 


$33,424.80 more in interest 


$125.63 more in interest


$2,326.11 more in interest 


$7,537.80 more in interest

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