Question: A student purchases a car for $5,000, but is able to make a down payment of $3,000, so the amount financed is $2,000. The interest

A student purchases a car for $5,000, but is able to make a down payment of $3,000, so the amount financed is $2,000. The interest is paid quarterly at a rate of 2% over 4 years. What is the total amount paid on the original $2,000 loan?

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