Day 3: Get Engaged! Part 2 Enter the data from the tables into the online calculator to determine the monthly payment. (If you would like to see how monthly payments impact principal and interest, select "Show Amortization Schedule" at the bottom right-hand side in order to view the reduction in principal and interest over the life of the loan) Interest Rate Loan Amount Loan Term per Year Monthly Payment Total Interest Paid Total Repayment (Principal + Interest) $20,000 $20,000 $20,000 2 years 3 years 4 years (APR) 8% 8% 8% How much more interest was paid when the loan term increased from 2 years to 3 years? TO need it by 11:59 :/