Comparison 

   2 percent Minimum Pmt.  4 percent Minimum Pmt. 

Months to Pay:  231 months  229 months 

Interest:  $3,090.32  $3,071.20 

Total Paid:  $6,861.57  $6,788.45 

Explain why there is or is not a significant difference in the time it takes to 
pay off the balance and the amount of interest paid over time. 
There is not a significant difference in the amount of time it takes to pay off 
the balance. It should be a significant difference but because of the interest 
that is paid on the purchase is so great, it outweighs the difference between 
the 2% and 4%.