Two customers took out automobile loans. Katy took out a 5-year loan for $18,000 and paid 7.00% annual simple interest. Frank took out a 6-year loan for $18,000 and paid 6.00% annual simple interest. What is the difference between the amounts of interest Katy and Frank paid for their loans?
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Home » Mathematics » Two customers took out automobile loans. Katy took out a 5-year loan for $18,000 and paid 7.00% annual simple interest. Frank took out a 6-year loan for $18,000 and paid 6.00% annual simple interest.