What is the total amount of interest

Reference no: EM131951219

Question: You are buying a car and have borrowed $48,000 at an annual interest rate of 12 percent. The terms of the loan require you to make monthly payments and to completely amortize the loan over four years. Assuming you make the payments as agreed what is the total amount of interest you will end up up paying over the four years?

Reference no: EM131951219

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