You take out a 5-year car loan with monthly payments of $400. The interest rate for the loan is 3.25%. How much total interest will you pay over the life of the loan? Group of answer choices $2,021.90 $22,123.89 $24,000.00 $1,876.11
You take out a 5-year car loan with monthly payments of $400. The interest rate for the loan is 3.25%. How much total interest will you pay over the life of the loan? Group of answer choices $2,021.90 $22,123.89 $24,000.00 $1,876.11
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
You take out a 5-year car loan with monthly payments of $400. The interest rate for the loan is 3.25%. How much total interest will you pay over the life of the loan?
Group of answer choices
$2,021.90
$22,123.89
$24,000.00
$1,876.11
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