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11. Question Details CraudQL3 4.2.020d. [4063302] Rounding in the calculation of monthly interest rates is...

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11. Question Details CraudQL3 4.2.020d. [4063302] Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $9000 loan for 58 months at 3.5% APR. How much total interest will you have paid at the end of the 58 months? (Round your answer to the nearest cent.) eBook

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