if we take 60000 thousand loan and pay 70416 for 36 months what is the interest
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Step-by-step explanation:
Divide your interest rate by the number of payments you'll make that year. If you have a 6 percent interest rate and you make monthly payments, you would divide 0.06 by 12 to get 0.005. Multiply that number by your remaining loan balance to find out how much you'll pay in interest that month.
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