You take out a car loan of $26119 at a rate of 3.2% compounded annually and...

 

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You take out a car loan of $26119 at a rate of 3.2% compounded annually and a term of 5 years with bimonthly payments. At the end of the 2nd year, what is the total amount of interest paid on the loan? Your Answer: You take out a car loan of $26119 at a rate of 3.2% compounded annually and a term of 5 years with bimonthly payments. At the end of the 2nd year, what is the total amount of interest paid on the loan? Your Answer:

Answer rating: 100% (QA)

To calculate the total amount of interest paid on the loan at the end of the 2nd year we first need ... View the full answer