Purchase price
        $                           $                             Loan term (months)
                                                                 Interest rate
                          %                           %           
   
  
 Your savings interest rate
    %
          Your state & federal tax rates

                          %        

  Loan 1 will cost you $1,005 more than Loan 2.   
    
   
  Loan 1 Loan 2 

  Monthly payment

       $299        $443        

  Total interest paid

       $1,370        $637       

    
  The graph shows the total interest expense of the two loans over time.