Question: Jack borrows $ 2 8 , 1 4 5 to pay for a car. The loan carries an annual rate of 4 . 5 %

Jack borrows $28,145 to pay for a car. The loan carries an annual rate of 4.5% and he wants to be debt free in 5 years by making biweekly payments (26 per year). How much interest will he pay on this loan?

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