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You are borrowing $26,000 to buy a car. You have a choice of a 36 month...

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Finance

You are borrowing $26,000 to buy a car. You have a choice of a36 month loan at an annual interest rate of 4.1 percent or a 60month loan where the annual interest rate is 0.5 percent higher. Ifyou select the 60 month loan instead of the 36 month loan, how muchmore total dollars of interest will you pay over the life of theloan?

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