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OpenStudy (anonymous):
E-Loan, an online lending service, recently offered 60-month auto loans at 5.4% compounded monthly to applicants with good credit ratings. Determine the total interest you will pay if you take out a loan with monthly payments of $469. (Do not round until the final answer. Then, round to the nearest cent.)
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OpenStudy (anonymous):
A=P(1+R/n)^(nT)
OpenStudy (anonymous):
Apply the FV formula!
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