AIR MATH

Math Question

Loan Comparison \begin{tabular}{|l|r|r|} \hline & \multicolumn{1}{|l|}{ Loan 1 } & \multicolumn{1}{l|}{ Loan 2 } \\ \hline Principal & \( \$ 5000.00 \) & \( \$ 5000.00 \) \\ \hline Interest Rate & \( 4 \% \) & \( 4 \% \) \\ \hline Monthly Payment & \( \$ 148.00 \) & \( \$ 113.00 \) \\ \hline Duration & 36 months & 48 months \\ \hline \end{tabular} How much money will a borrower using Loan 2 pay in interest over the life of the loan? A. \( \$ 424.00 \) B. \( \$ 328.00 \) C. \( \$ 452.00 \) D. \( \$ 592.00 \)

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