Answer:
Β nothing
Step-by-step explanation:
Loan payments are linear in the loan amount for a given rate and period, so the payments for loans of $2000 and $1000 sum to the amount of payments for a loan of $3000.
The only possible savings (or cost) might come from rounding to the nearest cent. (In any event, the final payment on each loan should make up for any differences due to rounding.)
Answer:
Β nothing
Step-by-step explanation:
Loan payments are linear in the loan amount for a given rate and period, so the payments for loans of $2000 and $1000 sum to the amount of payments for a loan of $3000.
The only possible savings (or cost) might come from rounding to the nearest cent. (In any event, the final payment on each loan should make up for any differences due to rounding.)
